Binary Options Daily Review September 3, 2010
Stocks:
Stocks mounted a modest afternoon rally to close near the day’s highs as investors awaited monthly jobs data on Friday that will shed more light on the economic recovery. The Dow Jones Industrial Average finished up 50.33 points, or 0.49%, at 10319.80. The Nasdaq Composite rose 1.06% to finish at 2200.01 while the Standard & Poor’s 500-stock index gained 0.91% to 1090.08.
Currencies:
The U.S. dollar moved lower in Asian trading Friday afternoon, losing ground against the yen and euro with traders wary ahead of the release of U.S. nonfarm payrolls later in the global day. The EURUSD stood at $1.2824, up from $1.2820 in late North American trading on Thursday.
Commodities:
Silver hit a multiyear high on Thursday, riding the coattails of gold, and copper settled at a four-month high after encouraging housing numbers.
Gold futures on Thursday closed less than half a percentage point away from their record high, resuming their climb as investors continued to use the metal as a means of safeguarding wealth. Gold for December delivery added $5.30, or 0.4%, to $1,253.40 an ounce on the Comex division of the New York Mercantile Exchange. That’s 0.4% away from the June 18 record high of $1,258.30 an ounce, and a fresh two-month high for the metal.
Binary Options Daily Review September 2, 2010
Stocks:
U.S. stocks surged Wednesday after a reading on manufacturing activity climbed in August, defying expectations of a decline and helping to calm worries about the direction of the economy. The Dow Jones Industrial rose 254.75 points, or 2.5%, to 10,269.47, with all 30 of its components tallying gains.
Currencies:
The dollar declined against the euro and other major currencies on Wednesday after a measure of U.S. manufacturing activity unexpectedly improved last month, adding to evidence of pockets of strength in the economy. The euro rose to $1.2799, up from $1.2679 late New York trading on Tuesday. It touched as high as $1.2855 earlier.
Commodities:
Gold futures shed earlier gains Wednesday, as stronger U.S. and Chinese manufacturing data quieted fears the global recovery was stalling, increasing investors’ appetite for risk. Gold for December delivery settled down $2.20, or 0.2%, to $1,248.10 an ounce at the New York Mercantile Exchange. Earlier it had risen as high as $1,256.60 an ounce, within $2 of a record high settlement of $1,258.30 an ounce set in June.
Crude-oil futures posted their biggest one-day gain in nearly a month Wednesday, after U.S. and Chinese manufacturing surveys sweetened the outlook for global oil demand after petroleum’s sharp tumble last month. Crude oil for October delivery ended floor trading up $1.99, or 2.8%, to $73.91 a barrel on the New York Mercantile Exchange, the biggest one-day rise for the most actively traded contract since August 2.
Binary Options Daily Review September 1, 2010
Stocks:
U.S. stocks see worst August since 2001. U.S. stocks finished a lackluster session little changed on Tuesday but finished the month with their worst August performance since 2001 as concerns about the economy continued to pile on. The Dow Jones Industrial Average on Tuesday rose 4.99 points to end at 10,014.72.
Currencies:
The Australian dollar seized the Asian spotlight Wednesday, posting strong gains after economic data showed that country’s April-June growth beat forecasts. The Aussie was up 1.3% at 89.95 U.S. cents, after the Australian Bureau of Statistics said gross domestic product rose 1.2% on a seasonally adjusted basis in the quarter, topping economists’ consensus forecast for 0.9% growth.
Commodities:
Gold futures rose to a two-month high Tuesday, pushing August gains past 5%, and silver hit a three-month high as investors sought out both metals to protect against a faltering economic recovery. Gold for December delivery added $11.10, or 0.9%, to $1,250.30 an ounce on the Comex division of the New York Mercantile Exchange, the highest since late June and less than 1% from bullion’s record settlement high of $1,258.30 an ounce on June 18. Gold rallied 5.6% in August. That compares to a decrease of 5% in July and is gold’s largest advance since April.
Crude futures finished lower Tuesday, adding to steep monthly losses, as plentiful inventories and concerns about an economic soft patch prompted investors to shift into gold and bonds. Oil for October delivery ended down 3.7% at $71.92 a barrel on the New York Mercantile Exchange Tuesday, with declines accelerating toward the close of the session.
Binary Options Daily Review August 31, 2010
Stocks:
U.S. stocks fell sharply Monday, adding to losses for August so far, as investors worried about the economy at the start of a data-riddled week, which culminates with the monthly employment report. The Dow Jones Industrial Average fell 140.92 points, or 1.4%, to end at 10,009.73, near session lows. The Dow is currently off 4.4% for August, with only one trading session left in the month.
Currencies:
The dollar advanced against the euro and most other major currencies Monday as U.S. stocks extended losses, failing to derive any support from economic data on consumer spending and personal incomes or from merger news. The Japanese yen registered broad gains, erasing early weakness after an emergency easing by the Bank of Japan failed to dampen the currency’s recent strength.
Commodities:
Copper hit a 4 month high. Copper futures December contract adding 5 cents, or 1.3%, to $3.43 a pound. Gold for December delivery added $1.3, or 0.1%. Crude-oil futures declined Monday as stocks fell and investors waited to see whether key economic data this week would reaffirm their fears about the pace of the economic recovery.
Binary Options Daily Review August 27, 2010
Stocks:
U.S. stocks fell Thursday as a fall in new claims for unemployment benefits offered only slight consolation to a market hammered by a recent spate of largely dismal economic reports. The question on everyone’s mind now is whether US Federal Reserve Governor Ben Bernanke will call for further stimulus dollars to keep the recovery going on a sustainable path. He will be speaking to the US congress on the matter today, which the markets will be following closely.
In trading the Dow Jones Industrial Average dropped 74.25 points to 9,985.81, with all but two of its 30 components ending in the red.
The S&P 500 declined 8.11 points to 1,047.22, with health-care companies and consumer staples weighing the most among its 10 industry groups. Material and industrial firms fared the best.
Currencies:
The Euro has tested support at 1.2695 session low right at European opening, which held firm and the pair bounced up to reach session high levels at 1.2740, approaching Thursday’s high at 1.2765.
On the upside, above 1.2735 session high, the pair could face resistance at 1.2765 (Aug 26 high) and then 1.2795/00 (Intra-day resistance). On the downside, immediate support lies at 1.2695 (session low), with next levels at 1.2650 (Aug 26 low) and 1.2585 (Aug 24 low).
The yen fell against the dollar and euro in Asian trading Friday after reports that Japanese Prime Minister Naoto Kan plans to hold a press conference later in the day to deal with the yen’s strength sparked selling on hopes that government may undertake some sort of concrete steps.
More Stimulus to Come?
Commodities Outlook:
Crude oil futures were slightly lower Friday in Asia against a backdrop of mixed regional equities, but were finding support ahead of a speech by U.S. Federal Reserve Chairman Ben Bernanke in which he may suggest more stimulus measures for the world’s largest economy.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at $73.31 a barrel at 0629 GMT, down $0.05 in the Globex electronic session. October Brent crude on London’s ICE Futures exchange fell $0.18 to $74.84 a barrel.
