Binary Options Report (July 5- July 8) |
Markets
Stocks ended lower Friday following a very, very dismal government employment report. However, indices still closed higher for the second week ahead of the widely-anticipated earnings season.
The Dow Jones Industrial Average fell 62.29 points, or 0.49 percent, to close at 12,657.20, clawing back from its session lows. The S&P 500 fell 9.42 points, or 0.70 percent, to end at 1,343.80. The Nasdaq dropped 12.85 points, or 0.45 percent, to finish at 2,859.81, snapping a eight-day winning streak.
DJIA
FOREX
Relative interest rate spreads remain in focus for the Japanese Yen. This is a fact clearly on display as the currency reacted to the bitterly disappointing US Employment report: the yield advantage of 2 year US Treasury bonds over comparable Japanese debt tumbled 8 basis points. This was the most in over seven months. Leading USDJPY to its biggest daily decline in six weeks. More of the same is on tap ahead, with weekly correlation studies continuing to show a very robust relationship between USDJPY and the US-Japan 2-year bond yield differential ahead of next week’s packed docket of economic data.
USDJPY
COMMODITIES
Gold prices jumped nearly 1 percent as investors piled into the precious metal as a safe haven. However, oil declined in volatile trade with crude falling $2.47 to settle at $96.20 a barrel and London Brent crude near $118. The Greenbacl tumbled against a basket of major currencies.
CRUDE
EQUITIES
Bank stocks were the biggest laggards, led by Bank of America after the financial giant reached a deal to sell its Balboa Life Insurance unit to Securian Financial. Rivals Citigroup and JPMorgan are slated to report earnings next week. On the tech front, Google declined after Morgan Stanley downgraded the Internet giant’s rating to “equal-weight” from “overweight” and cut its price target to $600 from $645. Apple was flat following news that there were security holes discovered in the tech giant’s iPhones and iPads.
About the author: BinaryOptionStrategy- David Frank
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