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Daily Analysis – Equities

ByBinary Options Strategy
Published 11/17/2011, 06:17 AM
Updated 05/14/2017, 06:45 AM
NDX
0.12%
DE40
1.74%
JP225
1.26%
HK50
-0.20%
CAT
-2.81%

Equities

Manufacturing PMI data from China rose for the first time in 3 months, boosting the region’s indexes.  In Greater China, the Shanghai Composite advanced 2.3% and the Hang Seng jumped 4.1%.  Around the region, the Nikkei rose 1.9% to 8844, the Kospi rallied 3.3% and the ASX 200 gained 2.7%.

European markets extended their gains from Friday.  The CAC40 gained 1.6%, the DAX rose 1.4%, and the FTSE closed up 1.1%.  Materials stocks led the advance, as the sector rallied 5.4%, encouraged by China’s PMI data.

In the US, stocks continued to rise.  The Nasdaq was the biggest gainer, climbing 2.4%, while the Dow rose 105 points and the S&P 500 advanced 1.3%.  The VIX dropped more than 6% to settle at 29.26.

Caterpillar shares climbed 5% after reporting strong earnings.

A flurry of M&A activity was announced on Monday.  Cigna announced it will buy Healthspring for $3.8 billion, sending Healthspring shares up 34%.  Oracle said it will buy Rightnow Technologies for $1.5 billion.  Mattel revealed it will buy HIT Entertainment for $680 million.

Currencies

The Australian Dollar jumped 1% to 1.0474, thanks to a recovery in commodity prices.  The other major currencies rose modestly against the Dollar.  The Euro and Pound both inched up .2%, and the Canadian Dollar rose .3% to 1.0035.

Economic Outlook

Tuesday’s reports will include the Case-Shiller home price index, the FHFA home price index, and consumer confidence.

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