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Binary Options Daily Analysis – US GDP Improves, by Falls Short of Forecasts

ByBinary Options Strategy
Published 02/04/2012, 11:34 PM
Updated 05/14/2017, 06:45 AM
NDX
-0.25%
DE40
0.60%
JP225
0.47%
HK50
2.64%
CVX
-0.29%
Equities

Asian markets traded mostly higher on Friday. The Kospi advanced .4% to 1965, a 6-month high, boosted by Samsung’s record profits. Similarly, the ASX 200 gained .4%, as a rebound in metal prices lifted miners. The Nikkei eased a mere .1% to 8841, despite steep losses from NEC, Nintendo, and Elpida Memory. The Hang Seng closed flat, while China’s Shanghai Composite remained closed for the Lunar New Year.

Disappointing GDP data from the US weighed on European shares in the afternoon. The CAC40 fell 1.3%, the FTSE lose 1.1%, and the DAX slipped .4%.

US GDP grew at 2.8% in the fourth quarter, the fastest pace in nearly 2 years. The data was slightly below the 3% expected by analysts, but far better than last quarter’s 1.8% growth.

US indexes settled mixed, as the Dow lost 74 points to 12660, and the S&P 500 slipped .2%, while the Nasdaq gained .4%. Several disappointing earnings reports weighed on stocks. Dow-component, Chevron, fell 2.5% after reporting earnings that fell short of forecasts. Ford sank 4.2% on weak earnings, and Juniper Networks dropped 3% after issuing a weak outlook.


Dow Sinks 74 Points

A report in the Wall Street Journal said Facebook may file for an IPO as soon as next week.

Currencies
The Dollar sank against global currencies, as the disappointing GDP data pressured the greenback. The Euro and Swiss Franc advanced .9% to 1.3220 and 1.0958 respectively. The Yen jumped 1% to 76.68, reversing its losses from earlier in the week. The Pound and Australian Dollar both edged up .3%.

Economic Outlook
Consumer Sentiment rose to 75 from last month’s 74, more than expected.

Monday’s economic calendar will include data on Personal income & spending, and the Dallas Fed manufacturing index.

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