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Binary Options Daily Analysis – Fed Pledges to Keep Rates Steady Until 2014

ByBinary Options Strategy
Published 02/04/2012, 11:39 PM
Updated 05/14/2017, 06:45 AM
NDX
-0.29%
DE40
0.33%
JP225
0.47%
SONY
-0.27%
Equities

Outstanding earnings from Apple on Tuesday evening helped propel Asian markets higher on Wednesday. The Nikkei rallied 1.1% to 8840, as a drop in the Yen boosted exporters such as Sony, which surged 4.8%. The ASX 200 climbed 1.1%, and the Kospi inched up .1%. Markets in China and Hong Kong remained closed for the Lunar New Year.

Concerns over Greek’s debt situation pressured European banks, sending the FTSE down .5% and the CAC40 down .3%. Nonetheless the DAX managed a slight gain. The European mobile sector fell after Ericsson missed profit forecasts.

US stocks advanced in the afternoon, thanks to a commitment from the Fed not to raise interest rates for at least 2 years. Tech shares led the advance, as the Nasdaq gained 1.1% to 2818. The Dow rose 83 points to 12759, and the S&P 500 closed up .9%.

Apple shares surged 6.2% to 446.66 after reporting earnings which exceeded analyst forecasts. 15 brokerage firms raised their targets on the stock, which settled at an all time closing high.AMD gained 3% after beating estimates for earnings, although revenue fell short of forecasts.

Currencies
The Australian Dollar jumped 1.2% to 1.0606, as the US Dollar fell against its peers. The Euro and Canadian Dollar both rose .6% to 1.3115 and 1.0039 respectively, and the Pound gained .3% to 1.5670. The Yen eased fractionally to settle at 77.72, and the Swiss Franc advanced .7% to 1.0858.

Economic Outlook
Pending home sales fell 3.5% in December, following November’s 7.3% advance. On the plus side, the OFHEO home price index rose by 1%, more than expected.

Thursday’s economic calendar will include durable goods, weekly jobless claims, new home sales, and leading indicators.

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