Hong Kong stocks fail to hold onto previous gains

Hong Kong stocks pulled back on Thursday after a rebound a day earlier, as new reports said the previously tipped $81 billion stimulus from China's central bank is still pending approval as banks prepare the relevant materials.

The Hang Seng Index HSI, -0.72% fell 1%, giving up all the gains made in Wednesday trade when the index recovered from an eight-day losing streak. Mainland Chinese banks lost ground, as both Bank of China Ltd. 3988, -0.27% BACHY, -0.66% 601988, +0.37% and China Construction Bank Corp. 0939, -1.20% CICHF, -3.66% 601939, +0.24% declined 1.6% each, Industrial & Commercial Bank of China Ltd. 1398, -0.58% IDCBF, +0.13% 601398, +0.28% dropped 1.2%, Agricultural Bank of China Ltd. 1288, -0.56% ACGBF, +0.00% 601288, +0.40% fell 0.8%, and Bank of Communications Co. 3328, +0.00% BKFCF, +12.50% 601328, +3.48% moved 0.5% lower.

Oil stocks felt the pressure from falling international crude prices, with top Chinese oil producer PetroChina Co. 0857, -1.49% 601857, -0.12% PTR, +1.42% down 2.2%, offshore oil producer Cnooc Ltd. 0883, -1.24% CEO, -0.21% losing 1.9%, and refiner China Petroleum & Chemical Corp., or Sinopec, 0386, -1.39% SNP, -1.00% lower by 1.3%. Over on the Chinese mainland, the Shanghai Composite Index SHCOMP, +0.40% inched down 0.1%.

Source: marketwatch.com

Binary Trading During the Holiday Season

During the holiday season, as a result of many people going on vacation, online stock trading on all financial markets is thinner with much lower trading volumes. This generally results in far smaller price fluctuations in stocks and commodities. Forex markets tend to behave differently with different influential countries celebrating some of the holidays at different times. Metals markets are closed on certain US holidays and it is advisable to check the days on which they con't operate if you are actively trading in that market.

There will be tighter limits in the markets. The results of thinner trade have historically been observed to have much tighter upper and lower limits in respect of equity and commodity markets. Adopting a limit bound strategy during holiday periods is recommended because with thinner trading, it is easier to pick up market trends. With a small upward trend, the way to go is to buy Call options with short to medium time lines while in a depressed market with resistance to higher prices, buying Put options would probably be more profitable.

Stock trends before holidays. Numerous studies by academic researchers have found that stock prices increase abnormally before holidays, such as the 4th of July, and return to previous levels when trade resumes after the holiday. This trend can be useful for binary options traders, trading both Call and Put trades in line with the historically observed trends. The identical trend has been found in the United Kingdom and Japanese equity markets despite their holidays being at different times to the US.

Forex markets and holidays. Forex markets are more easily affected by political events and economic indicators than equity or commodity markets. During holiday periods, most politicians enjoy vacations along with the rest of us, with very little political activity taking place while economic data reporting is also not done during holiday periods. With neither of these factors having to be taken into account, Forex markets generally are very flat during holiday periods and should be considered risky for binary options traders.

Caution needs to be exercised when trading before and during holiday seasons, but there is no doubt that a change in markets conditions will present opportunities for the binary options trader who has studies the markets and taken correct note of historical trends.

Source: invezz.com

Brent Prices Below $98 On Poor Economic

With all eyes on the Federal Reserve this week, oil prices remained soft on weaker global demand and rising supply.

Brent crude oil traded at $97.52 at 10:45 GMT after falling to a 26-month low on Monday. The commodity has been under pressure recently as troubling economic data coupled with increasing supplies have weighed on prices.

Libyan oil production has been on the rise as the country regains control of its oilfields and ramps up its output. The nation’s exports have risen to nearly one million barrels per day, still shy of Libya’s maximum capacity, but a huge jump from earlier in the year when production was suppressed to less than half of normal capacity.

Meanwhile, data from around the globe suggests that demand will not be able to compensate for the growing supply. Factory output in China, the world’s second-largest oil consumer, has fallen to a near six-year low, while worries about the conflict in Ukraine continue to plague Europe.

Reuters reported on Tuesday that Germany’s ZEW survey of investor sentiment posted its ninth straight month of decline with a 6.9 reading in September. The figure showed a sizable drop from August’s 8.6 reading but beat expectations of a 4.8 reading. The survey’s results largely reflect concerns about the growing tension between the West and Russia due to the conflict in Ukraine.

Moving forward, investors will be looking to the U.S. Federal Reserve as it meets for a two-day policy meeting beginning on Wednesday. The meeting will likely drive prices lower as most expect the bank to signal an earlier than expected rate cut, which would drive the dollar upward.

Source: benzinga.com

Pound Gains 2nd Day Versus Euro Before BOE Minutes

The pound strengthened for a second day versus the euro before the Bank of England release minutes of this month’s Monetary Policy Committee meeting.

Sterling was little changed against the dollar as Scotland prepares to vote tomorrow on whether to leave the U.K. Minutes from the August MPC meeting showed members Martin Weale and Ian McCafferty voted to increase borrowing costs, marking the first split on interest rates in more than three years and also the first under Governor Mark Carney. The BOE left its official Bank Rate (UKBRBASE) at a record-low 0.5 percent this month, a level unchanged since March 2009.

The pound gained 0.1 percent to 79.53 pence per euro as of 7:03 a.m. London time. It appreciated 0.1 percent against the common currency yesterday. Sterling was at $1.6278, after advancing 0.3 percent to $1.6277 yesterday.

The U.K. jobless rate, as measured by International Labour Organization methods, fell to 6.3 percent in the three months through July, according to the median estimate of economists in a Bloomberg News survey before the Office for National Statistics releases the data at 9:30 a.m. in London. That compares with a reading of 6.4 percent in the period ended June, which was the lowest since the fourth quarter of 2008.

Sterling strengthened 0.4 percent in the past month, according to Bloomberg Correlation-Weighted Indexes. The euro dropped 0.7 percent, while the dollar gained 3.2 percent.

U.K. government bonds returned 6.5 percent this year through yesterday, Bloomberg World Bond Indexes show. German securities also gained 6.5 percent and U.S. Treasuries earned 3.3 percent.

Source: bloomberg.com

Miners lift FTSE 100; eyes on Scotland, central banks

The U.K.’s FTSE 100 index moved slightly higher on Wednesday, supported by gains for mining companies, as investors focused on central banks and tried to stay calm ahead of a nearing referendum on Scottish independence.

London’s benchmark index UKX, +0.10%  rose 0.3% to 6,810.05, but still lagged gains for bourses across Europe. The index has been down for two straight sessions, amid investor caution over the potential for a “yes” outcome to the vote to leave the U.K. in Scotland, where polls open Thursday.

The pound GBPUSD, +0.32% which has been suffering from uncertainty surrounding the vote, showed some strength, trading at $1.6310 versus $1.6282 late Tuesday.

On the U.K. economic calendar, unemployment data and the minutes of the latest Bank of England Monetary Policy Committee meeting are due early. Investors will be looking to see if any more members voted to hike rates, as the August meeting showed the first dissent among members in several years. Both the joblessness data and BOE minutes are due at 9:30 a.m. London time.

The two-day Federal Open Market Committee meeting could keep investors at bay. The focus will fall on the Federal Reserve policy statement and any change in language that could hint of a sooner-than-expected hike in interest rates. Read: The only two words that will matter at the Fed

Stocks: Smiths Group PLC SMIN, -4.89%  topped the losers list with a nearly 5% drop after the medical-device and airport-scanner maker posted a fall in full-year revenue and profit, dragged by a weak performance at its detection business.

Miners were on the rise, with heavyweights such as Rio Tinto PLC RIO, +0.39% RIO, +2.05%  up 0.7% and BHP Billiton PLC BLT, +0.60% BHP, +1.33%   adding 0.6%. Anglo American PLC AAL, +0.63%  rose more than 1%.

Lloyds Banking Group PLC LLOY, +0.80% LYG, +0.21%  was a heavyweight gainer, up nearly 1%, and chip designer ARM Holdings PLC ARM, +1.85% ARMH, +0.11%  added 1.8%.

Source: marketwatch.com

Euro Steady as Tension in Ukraine Worsens

The euro remained below $1.30 on Tuesday despite encouraging trade data out on Monday. The common currency traded at $1.2961 at 10:00 GMT with the Fed’s upcoming meeting and the crisis in Ukraine continuing to weigh.

Reuters reported that the bloc’s trade surplus increased annually in July due to growing exports. The region’s trade surplus rose to 21.2 billion euros, with exports rising 3 percent and imports increasing by just 1 percent. The figure far surpassed last year’s July trade balance of just 18 billion euros, suggesting that the eurozone economy may have received a bit of a boost in the third quarter.

The surplus was largely attributed to an increase in exports to the Unites States, China and Britain, while the bloc’s deficit with Russia grew to 31.7 billion euros  from January to June. With sanctions limiting the European nations’ transactions with Russia, exports to the nation waned.

Hopes of ending the conflict in Ukraine and lifting sanctions against Russia were dashed on Monday after the ceasefire agreement in Ukraine was violated. The renewed fighting claimed six civilian lives and left a further 15 wounded, marking one of the largest losses of civilian lives since the conflict began.

German Chancellor Angela Merkel has been trying to persuade her Russian counterpart Vladimir Putin to withdraw his troops from Ukraine and continue working toward a peaceful political solution. However, Ukraine’s recent agreement to push through a trade agreement with the eurozone has heightened tension between the West and Russia, and prompted the Kremlin to threaten to restrict trade with Ukraine in retaliation.

Source: benzinga.com

Sony warns of $2.14 bln annual loss over four times forecast

Sony on Wednesday raised its forecast annual loss more than fourfold to $2.14 billion, blaming its struggling mobile phone business.

The Japanese electronics giant said it now expects to lose 230 billion yen in the fiscal year to March 2015, up from a previous forecast net loss of 50 billion yen and reflecting a drop in the value of its mobile unit.

Sony has cut expectations for sales in the smartphone business, which has been reporting operating losses, as it faces off against rivals including Apple and South Korea's Samsung.

"The new MRP (Mid-Range Plan) was modified to address the significant change in the market and competitive environment of the mobile business," Sony said in a statement.

"Under the new MRP, the overarching strategy for the (mobile) segment has been revised to reduce risk and volatility, and to deliver more stable profits.

"This revision includes changing the strategy of the (mobile) segment in certain geographical areas, concentrating on its premium lineup, and reducing the number of models in its mid-range line up."

Source: yahoo.com

Oil Price Mixed in Asian Trade

Oil prices were mixed in Asia Tuesday following weak economic data from top energy consumers the United States and China, and as dealers await a key US Federal Reserve meeting.

US benchmark West Texas Intermediate for October delivery was down 16 cents at $92.76, while Brent crude for November rose seven cents to $97.95 in afternoon trade. Brent's October contract expired Monday at $96.65, its lowest level since June 2012.

Singapore's United Overseas Bank said "investors continued to fret over anaemic oil demand growth" after the release of US data on Monday.

US industrial production unexpectedly fell in August by 0.1 percent, after six months of gains. Manufacturing output meanwhile fell 0.4 percent.

The data came after China reported over the weekend that growth in industrial production fell sharply to 6.9 percent in August, the slowest pace in more than five years.

Analysts said investors were awaiting the highly anticipated two-day meeting of the Fed's policy-making committee that begins Tuesday.

They are concerned by the prospect the Fed will begin hiking interest rates sooner than expected, and will be scrutinising statements by the bank's chief Yellen on Wednesday.

The Fed has previously said it would keep interest rates low for a considerable time after ending its massive stimulus programme, based on continued weakness in the labour market.

Its once $85 billion-a-month bond buying programme is expected to be fully wound down by the end of October.

Source: yahoo.com

Dollar Falls From 14-Month High as Production Declines

The dollar fell from the highest level in 14 months against its major peers after data showed U.S. industrial production unexpectedly dropped in August.

The Bloomberg Dollar Spot Index climbed earlier amid bets the Federal Reserve will change its stance this week on keeping rates low for a “considerable” time after ending bond purchases. U.S. Treasury yields declined, damping the appeal of dollar-denominated assets, and the greenback fell against the yen for the first time in six days. A gauge of emerging-market currencies decreased.

“Soft data did contribute to today’s move; Treasury yields are slightly lower,” Eric Viloria, a strategist at Wells Fargo & Co. in New York, said in a phone interview. “There’s a bit of cautiousness ahead of the Fed meeting. Positioning in dollar longs is a bit stretched. That could restrain the dollar going forward.” Long positions are bets a currency will gain.

The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major currencies, fell as much as 0.1 percent to 1,049.31 after rising earlier to 1,052.14, the highest since July 2013. It was little changed at 1,050.55 at 5 p.m. New York time.

The dollar weakened 0.1 percent to 107.19 yen after reaching 107.39 yen on Sept. 12, the strongest since September 2008. The U.S. currency gained 0.2 percent to $1.2940 per euro. The European currency fell 0.3 percent to 138.70 yen. Japanese financial markets were shut today for a national holiday.

Aussie Drops

Australia’s dollar dropped as much as 0.6 percent to 89.84 U.S. cents, the lowest since March 12, after the weakest growth in China, the nation’s biggest trade partner, since the global financial crisis. The Aussie pared its loss to 90.28 cents.

“The risks now are building for the Australian dollar, not just from the U.S. higher yields, but from the Chinese angle as well,” said Ian Stannard, head of European foreign-exchange strategy at Morgan Stanley in London. “We’ve seen the Aussie already moving below 90, giving quite a bearish signal. It’s an important week for global risk-assessment.”

Chinese industrial output rose 6.9 percent from a year earlier in August, the statistics bureau said Sept. 13. That was down from 9 percent in July and the slowest pace outside the Lunar New Year holiday period of January and February since December 2008, based on previously reported data compiled by Bloomberg.

Output at U.S. factories, mines and utilities fell 0.1 percent in August after a 0.2 percent gain the prior month that was smaller than previously reported, Fed data showed. The median forecast in a Bloomberg survey of 79 economists called for a 0.3 percent rise. Manufacturing declined 0.4 percent as auto production slumped 7.6 percent.

Source: yahoo.com

Asian Stocks Extend Slide as Aussie Bonds Rise

Asian stocks fell, with the regional index headed toward its longest slump since 2002. Australian bonds followed a rebound in Treasuries before the Federal Reserve reviews interest rates, while oil declined.

The MSCI Asia Pacific Index lost 0.1 percent by 9:37 a.m. in Tokyo, on track for a ninth day of declines, the most since a 10-day drop in June 2002. Japan’s Topix (TPX) index fell 0.2 percent as markets resumed following a holiday. Nasdaq 100 Index futures were little changed after the U.S. gauge of technology stocks sank 1 percent in New York. Ten-year Australian notes rose for the first time in six days after Treasuries snapped their longest drop in more than a year. U.S. oil fell 0.3 percent.

Fed officials meet to review policy from today, with an unexpected decline in American factory output damping speculation the timeline for interest-rate increases could be brought forward. China’s Alibaba Group Holding Ltd. (BABA) boosted the size of its U.S. initial share sale amid strong demand, putting it on track to break global fundraising records. Morning trading in Hong Kong is delayed because of a typhoon, while Australia’s central bank releases minutes of its last meeting today.

"The big issue is whether the Fed will change its forward guidance to indicate they are getting closer to the decision on putting interest rates up," Stephen Halmarick, head of investment markets research at Colonial First State Global Asset Management, which oversees about A$170 billion ($154 billion), said by phone from Sydney. "The transition period as the Fed tightens will be difficult for markets in the Asian region. I think we are in for a few months of increased volatility in markets."

Considerable Time

The Fed is gauging the strength of the U.S. economy as it winds down a bond-buying program that's on track to end this year. The bank has been saying since March that interest rates would stay low for a "considerable time" after it completes the asset purchases known as quantitative easing. Speculation the Fed may bring forward rate increases has boosted the allure of the dollar this month and depressed Treasuries.

Japan's Nikkei 225 Stock Average declined 0.2 percent, snapping a five day advance, while the NZX 50 Index in Wellington dropped 0.3 percent. The Kospi gauge in Seoul added 0.1 percent as Australia's S&P/ASX 200 Index fell 0.2 percent.

The morning session on the Hong Kong Stock Exchange will be delayed due to Typhoon Kalmaegi, according to a statement on the exchange group's website. The city's third-highest storm signal was issued for the first time this year early today. Markets in Malaysia are closed for a holiday today.

Source: bloomberg.com

Guide for the Binary Options Traders as the Eurozone tumbles!

How Binary Options Traders Can Capitalize On This Data 

With everything going on right now, we can bet on a couple of different things. First off, investors and economists are just about sure that the Eurozone is going to have to put more stimuli in place soon. As a result, we can expect that the value of the Euro is going to continue to fall. Another thing that’s pretty much a surefire bet is based on the data correlation strategy. We know that when big economies get hit hard, one of the first places investors look is into the US markets. With that said, we can expect to see gains continue in the US Market; at least for the short term. Using this data, binary options traders have the ability to really improve on profits!

Horrible news for the Eurozone sends US stocks on a bullish trend. The S&P 500 broke through the 2,000 landmark while investors hope to see the European Central Bank increase their stimulus efforts. Today, we’ll talk about how bad data in Germany, bad politics in France, and an overall bad economic outlook for the Eurozone sent the US stock market on a bullish path. We’ll also look at what binary options traders can do to profit from the news.

Bad Business Sentiment Data in Germany 

One of the biggest pieces of news that has hit the market this week came out on Monday when the Munich-based IFO think tank reported its newest business climate index data. Last month, they reported that the index was at 108 points and expected to fall to 107 points this month. Unfortunately for the Eurozone, the fall that took place was much larger than expected. The new business climate index score, based on a survey of more than 7,000 companies, hit a low it hasn’t seen in more than a year of 106.3 points. Much of the fall is said to be attributed to tougher sanctions being placed against Russia as a result of the Russia/Ukraine conflict, as well as the reaction Russia had to those sanctions.

Public Political Feuds in France 

Another factor that seems to be plaguing growth in the Eurozone is the public political feud we’ve seen in France. Tensions heated up as French lawmakers worked to come up with a way to stimulate the French economy. As a result of the feud, French Economic Minister Arnaud Montebourg announced that he and two of his colleagues would be leaving their posts. This leaves Francois Hollande with quite a struggle moving forward as he attempts to reduce the unemployment rate in the country of more than 10%; and gain the trust of more than 80% of French voters who don’t think he’s got what it takes to make a difference.

U.S. Markets Skyrocket 

As a result of the poor news in the Eurozone, U.S. markets skyrocketed. On Monday, the S&P 500 broke the 2,000 mark for the first time in history during day trading. Unfortunately, it closed just shy of that mark at 1,997.92. In the meantime, the Dow Jones Industrial Average went up 75 points, while NASDAQ increased by 18 points; making for a great day in the US stock market.

Source: investing.com

Forex Market Daily Trading Outlook

UR/NOK traded within the range of 8.1567 – 8.1340 and closed at 0.12% lower at 8.1385, its sixth straight losing session.

At 6:52 GMT today EUR/NOK was up 0.02% for the day to trade at 8.1387. The pair held in a daily range between 8.1331, the lowest in more than two months, and 8.1438.

Germany

Destatis reported today that Germany’s Import Price Index fell by 0.4% in July on a monthly basis, compared to expectations for a 0.1% decline following June’s 0.2% jump. Year-on-year, import prices lost 1.7%, compared to a 1.2% decline the previous month. Analysts had projected a 1.4% drop.

The Import Price Index measures the changes in prices of imported goods in Germany. It is used to distinguish changes in trade volume versus changes in trade prices. While the former suggests rising consumer demand and economic activity, the latter implies higher production costs and inflation. Generally speaking, a better-than-projected reading should be seen as bullish for the euro, and vice versa.

France

France’s National Institute of Statistics and Economic Studies (INSEE) reported that business conditions in the second-biggest EU economy were the worst in more than a year. The Business Climate index matched expectations and slid to 96 this month, the lowest since July 2013, down from 97 during the preceding month.

The index reflects the performance of the French economy in the short-term perspective. It is compiled from a survey of around 4 000 business leaders from varying sectors.

A higher value is seen as bullish for the euro and vice versa.

Italy

Italy’s consumer confidence is also expected to have fallen in August. The Italian National Institute of Statistics will likely report at 8:00 GMT that its index fell to 104.0 from 104.6 in July.

Like with any other country, Italy’s consumer confidence is also a leading indicator as it gives a preliminary insight into consumer spending, which makes up most of GDP. Thus, higher readings are generally seen as bullish for the euro, and vice versa.

Norway

The rate of unemployment in Norway probably remained flat at 3.2% in the three months to July, according to the median forecast by experts.

It represents the percentage of the eligible work force that is unemployed, but is actively seeking employment. Unemployed persons are persons who were not employed in the survey week, but who had been seeking work during the preceding four weeks, and were available for work within the next two weeks. Persons in the labor force are either employed or unemployed. The remaining group of persons is labeled not in the labor force. Unemployed persons and persons not in the labor force constitute the group of non-employed persons. In case the unemployment rate met expectations or even increased further, this would have a bearish effect on the krone. Statistics Norway will release the official employment data at 8:00 GMT.

If EUR/NOK manages to breach the first key support at 8.1294, it will probably continue to slide and test 8.1204. With this second key support broken, movement to the downside will probably continue to 8.1067.

Source: binarytribune.com

Introducing 100% Payouts on Winning Trades

The introduction of 100% payouts is one among many new features added to the MarketsWorld binary options trading platform. MarketsWorld has also introduced access to historical expiry prices on each tradable asset. This enhances the trade experience and provides pricing data instantly for customers ensuring transparency.

Fresh off the heels of its much lauded introduction of 60 second binary options, today MatketsWorld launched a new payout structure whereby winning trades can payout up to 100% profit for the correct prediction of short term movements in the world's forex and financial markets.

The fanfare surrounding this latest development launch will be the 100% payouts, however we are also developing more subtle changes such as access to the historical pricing. This will allow customers to search and select pricing through a particular time or date on every tradable asset.

Of course most will be interested in the 100% profit on certain trades. MarketsWorld had already been held out as the payouts leader offering no less than 70% on winning traders and payouts as high as 95%, which is already unheard of in the binary options industry where payouts seem to go no higher than 86%.

The company latest move is that it will offer up to 100% returns on winning trades while still having no trades offered for less than 70% returns guaranteed.

2014 is proving to be a transformational year for the licensed and regulated Binary Options Platform.

Source: digitaljournal.com

Oil prices gain

Oil prices gained Wednesday, with the New York WTI benchmark barely higher as the US weekly stockpiles report showed a fall in inventory.

The main US contract, West Texas Intermediate crude for October delivery, added two cents at $93.88 a barrel.

Brent North Sea crude for October meanwhile rose 22 cents to $102.72 a barrel in London deals.

The main news was a 2.1 million barrel fall in US commercial crude-oil stockpiles, larger than expected.

Stocks at the Cushing, Oklahoma, depot where WTI is delivered rose, however, by 500,000 barrels.

The Energy Department's weekly report showed a 0.4 percent increase in total petroleum inventories, including distillates and gasoline, in relation to average daily demand.

The simmering conflicts in Ukraine and the Middle East seemed not to bother markets.

Desmond Chua, market analyst at CMC Markets in Singapore, said investors have been bouyed by "a string of strong economic data in the US".

Source: yahoo.com

Stocks that you Need to Watch Out For!

Wall Street expects Tiffany & Co (NYSE: TIF) to report its Q2 earnings at $0.85 per share on revenue of $987.88 million. Tiffany shares rose 0.92% to $101.70 in after-hours trading.

Smith & Wesson (NASDAQ: SWHC) reported in-line earnings for the fiscal first quarter, but lowered its full-year guidance. Smith & Wesson shares tumbled 11.22% to $11.63 in the after-hours trading session.

Analysts are expecting Guess? (NYSE: GES) to have earned $0.29 per share on revenue of $617.91 million in the second quarter. Guess? shares declined 0.27% to close at $25.83 yesterday.

Williams-Sonoma (NYSE: WSM) is projected to post its Q2 earnings at $0.53 per share on revenue of $1.05 billion. Williams-Sonoma shares gained 0.87% to $75.50 in after-hours trading.

TiVo (NASDAQ: TIVO) reported better-than-expected second-quarter profit and announced a new $350 million share repurchase plan. TiVo shares slipped 1.80% to $13.65 in the after-hours trading session.

Analysts expect Brown-Forman (NYSE: BF-B) to report its Q1 earnings at $0.72 per share on revenue of $933.86 million. Brown-Forman shares climbed 1.46% to $93.58 in after-hours trading.

Donaldson Company (NYSE: DCI) is expected to report its Q4 earnings at $0.47 per share on revenue of $654.67 million. Donaldson shares dropped 0.04% to $40.67 in the after-hours trading session.

Source: benzinga.com

Gold Trades Dropped

Gold Trades Below $1,300 as US. Economy Weighed With Tensions

Gold held below $1,300 an ounce as investors weighed a strengthening U.S. economy and dollar against signs of easing tensions around the world.

Bullion for immediate delivery traded at $1,282.61 an ounce at 9:32 a.m. in Singapore from $1,281.20 yesterday, when prices rose as much as 1.1 percent before ending 0.3 percent higher, according to Bloomberg generic pricing. The metal on Aug. 21 dropped to $1,273.14, the lowest level since June 18, on speculation the U.S. Federal Reserve will raise borrowing costs sooner than forecast.

The dollar climbed to its highest level in almost a year against the euro on speculation the Fed will increase rates next year, while the European Central Bank will add to stimulus. Data today may show German inflation stalled after a report yesterday showed U.S. consumer confidence rose to a seven-year high, sending the Standard & Poor’s 500 Index to a record.

“Gold is helped by some safe-haven demand but U.S. economic data continues to show good growth, and we expect the strong dollar and momentum in stocks to put pressure on prices,” said Huang Wei, a Shanghai-based analyst at Huatai Great Wall Futures Co. “Outflows from the SPDR also shows a slight negative trend.”

Gold for December delivery lost 0.1 percent to $1,283.50 an ounce on the Comex in New York. Holdings in the SPDR Gold Trust fell yesterday for a second day.

Source: bloomberg.com

Rumors Circulating on Wall Street

Ann, Inc. Reportedly Exploring Potential Sale

The Rumor:
Shares of Ann, Inc. (NYSE: ANN), the parent of retailer Ann Taylor, surged higher Tuesday, on a report from Reuters that it had hired JPMorgan Chase to consider strategic alternatives, including a potential sale.

Spokespersons for Ann and JPMorgan declined comment on the report.

Ann, Inc. closed Tuesday at $41.87, a gain of almost 5%.

Jupiter Offers $8.00/Share for Alteva

The Offer:
Shares of Alteva (NYSE: ALTV) spiked higher late Tuesday, following an offer from Jupiter Investment, to acquire the cloud-based communications company for $8.00 per share in cash. Altera reported a 6.2% stake in Alteva as of August 26.

Jupiter made the offer in a letter to Alteva's Board of Directors.

Alteva closed Tuesday at $6.88, a gain of 30%.

Medtronic Acquires Sapiens Steering Brain Stimulation for ~$200M in Cash

The Deal:
Medtronic (NYSE: MDT) announced Tuesday, that it has acquired Sapiens Steering Brain Stimulation for approximately $200 million in cash.

The transaction does not impact Medtronic's FY 2015 earnings guidance.

Medtronic closed Tuesday at $63.52, a loss of $0.11.

Source: benzinga.com

Tokyo Stocks Open Up

Tokyo stocks opened 0.23 percent higher on Wednesday after Wall Street continued its record-setting bull run.

The Nikkei 225 index was up 35.34 points at 15,556.56 at the start. Yutaka Miura, senior technical analyst at Mizuho Securities, said "stocks could go either way today" as solid trading cues remain thin.

Wall Street sustained its seemingly indefatigable bull run on Tuesday, helped by more encouraging data on the US economy.

The S&P 500 finished above 2,000 for the firs time, capping a steep climb from 676 in March 2009.

It closed up 0.11 percent at 2,000.2, while the narrower Dow Hones Industrial Average rose 1.07 percent to 17,106.70.

The dollar was at 104.11 yen in early Asian trade, compared with 104.05 yen in New York Tuesday afternoon.

The euro bought $1.3168 and 137.14 yen against $1.3169 and 137.03 yen in US trade.

Source: yahoo.com

Stocks to Watch for Today!

Some of the stocks that may grab investor focus today are:

Wall Street expects Foot Locker (NYSE: FL) to report its Q2 earnings at $0.54 per share on revenue of $1.57 billion. Foot Locker shares rose 0.82% to $53.00 in after-hours trading.

The Gap (NYSE: GPS) reported better-than-expected fiscal second-quarter earnings. Gap shares rose 0.74% to $43.50 in the after-hours trading session.

Analysts are expecting ANN (NYSE: ANN) to have earned $0.68 per share on revenue of $648.09 million in the second quarter. ANN shares gained 0.54% to close at $38.81 yesterday.

Aéropostale (NYSE: ARO) issued a downbeat third-quarter outlook. However, the company reported stronger-than-expected second-quarter results. Aéropostale shares dipped 7.16% to $3.63 in the after-hours trading session.

Analysts expect Hibbett Sports (NASDAQ: HIBB) to report its Q2 earnings at $0.31 per share on revenue of $201.05 million. Hibbett Sports shares declined 0.02% to $46.82 in after-hours trading.

GameStop (NYSE: GME) reported upbeat results for its fiscal second-quarter. GameStop shares jumped 5.09% to $42.55 in the after-hours trading session.

Source: benzinga.com

Dollar inches down ahead of Yellen speech

The dollar inched down in Asia Friday as investors awaited a speech by the US Federal Reserve chief for any hint at when the bank will start raising interest rates.

The US unit was changing hands at 103.71 yen in Tokyo afternoon, compared with 103.85 yen in New York Thursday afternoon.

The euro was mixed, buying $1.3287 and 137.81 yen against $1.3280 and 137.91 yen in US trade.
"It is likely to remain very, very quiet today, ahead of Fed Chair's speech," National Australia Bank (NAB) said in a note.

All eyes were on he Fed's annual monetary policy meeting in Jackson Hole, Wyoming, where the heads of the US and eurozone central banks will speak.

Fed Chair Janet Yellen is schedule to speak first, at 1400 GMT Friday, followed by Mario Draghi, the European Central Bank president, at 1830 GMT.

"This forum has been known to signal the Fed's intentions and at the very least guide market direction with regards to policy. So there is often a lot of anticipation," the Australian bank said.

The dollar has risen over the past week as solid data and Fed minutes fuelled speculation that the Fed may start raising its key interest rates sooner than expected.

Unless Yellen is supportive of the latest improvements in the labour market, "there is likely to be some USD disappointment," NAB said.

"The risks are far more weighted to USD downside, than up, at these levels," it said.
The dollar fell against other Asia-Pacific currencies.

It slipped to Sg$1.2478 from Sg$1.2519 on Thursday, to 31.89 Thai baht from 32.06 baht and to 11,655.00 Indonesian rupiah from 11,724.50 rupiah.

The greenback also dropped to 1,017.35 South Korean won from 1,023.90 won, to 43.79 Philippine pesos from 43.82 pesos, to Tw$29.96 from Tw$29.99 and to 60.42 Indisn rupees from 60.63 rupees.

The Australian dollar rose to 93.23 US cents from 92.53 cents, while the Chinese yuan fell to 16.81 yen from 16.88 yen.

Source: yahoo.com

European Stock Markets Stable at Open

Europe's main stock markets steadied at the start of trading on Friday in cautious deals before a key speech from US Federal Reserve chief Janet Yellen.

London's benchmark FTSE 100 index rose 0.04 percent to 6,780.08 points and Frankfurt's DAX 30 gained 0.12 percent to 9,390.29, while the CAC 40 index in Paris fell 0.04 percent to 4,291.06 compared with Thursday's closing level.

Later on Friday, Yellen will deliver a keynote speech at the Fed's annual conference in Jackson Hole, Wyoming, as investors continue to speculate on the direction of US interest rates.

European equities had marched higher on Thursday, cheered by hints the Fed could raise interest rates sooner than expected in view of US growth, and despite mixed eurozone data.

"Traders will keep a close eye on Fed chief Janet Yellen who will deliver a speech on labour markets later this afternoon," said analyst Markus Huber at brokerage Peregrine & Black in London.

"Any hints that the labour market is more balanced and healthier than earlier this year might lead to a reassessment by analyst concerning the likely timing of a first rate rise."

Source: yahoo.com

Oil prices mixed in Asia

Oil prices were mixed in Asia Wednesday as investors await the release of US Federal Reserve minutes from its July meeting, while keeping an eye on the latest stockpiles data.

US benchmark West Texas Intermediate (WTI) for September delivery rose 81 cents to $95.29 on its last day of trading. It tumbled $1.93 in New York Tuesday as speculative traders sold off ahead of its expiration date.

Brent crude for October eased 12 cents to $101.44.

Desmond Chua, market analyst at CMC Markets in Singapore, said dealers are squaring positions before they scrutinise the minutes of a two-day Fed meeting that ended on July 30.

Investors will be looking at whether the minutes "reveal anything insightful pertaining to tightening monetary policy", said Chua.

Bank policymakers have said the Fed will hold its near-zero interest rate policy until the US economy strengthens but may raise rates if the jobs market kept improving.

Dealers are also awaiting the latest official US stockpiles report later Wednesday from the Department of Energy, with expectations for a decline.

Crude oil stocks are projected to have fallen by 900,000 barrels on average in the week to August 15, according to analyst surveyed by the Wall Street Journal.

Gasoline stockpiles are expected to have fallen by 1.3 million barrels, while stocks of distillates, which include heating oil and diesel, are expected to have dropped by 700,000 barrels.

A decline in US stockpiles typically indicates strong demand in the world's top crude consumer, supporting global prices.

Markets are continuing to track conflicts in crude producers Libya and Iraq, as well as in Ukraine, a key conduit for Russian gas exports to Europe, analysts said.

Source: yahoo.com

Gold slips ahead of Fed minutes

Gold prices slipped just below the $1,300 level on Wednesday as traders prepared for the release of minutes from the last Federal Reserve policy meeting while keeping one eye on the end of the week, when Janet Yellen steps up in Jackson Hole.

Gold for December delivery GCZ4, -0.21%  shed 30 cents to $1,297 an ounce. But September silver SIU4, +0.02% turned higher, gaining 5 cents to $19.47 an ounce.

A day earlier, gold prices pulled back slightly as investors ran the Nasdaq COMP, +0.43%  up to levels not seen since March of 2000. It wasn’t just technology stocks, either. The broad market was in rally mode, sapping demand from the perceived safe haven of precious metals.

Traders will be poring over the Federal Open Market Committee minutes later in the day, looking for clues as to when the Fed will start hiking interest rates. Friday’s Yellen show in Wyoming is expected to be much more revealing.

Still, Credit Suisse analyst Tom Kendall says not to expect to much from her speech.

“We would like to be able to highlight this week’s Jackson Hole symposium as a potential source of volatility,” he said. “Unfortunately, however, recent history, Janet Yellen’s record of dovishness and current market positioning makes that less likely.”

Elsewhere in metals trading, October platinum PLV4, -0.30%  fell 90 cents, or 0.1%, to $1,438.30 an ounce while September palladium PAU4, -0.90%  fell $4.30, or 0.5%, to $876.20 an ounce. High-grade copper for September delivery HGU4, +0.70%  picked up 2 cents, or 0.7%, to $3.11 a pound.

Source: marketwatch.com

Chatter circulating on Wall Street!

GigOptix Proposes to Acquire GSI Technology for $6.50/Share in Cash, Stock Deal

GigOptix (NYSE MKT: GIG) announced Tuesday that it is proposing to acquire all of the outstanding shares of GSI Technology (NASDAQ: GSIT) for $6.50 per share, consisting of $2.00 per share in cash, plus GigOptix common stock worth $1.33 based upon the volume-weighted average price of GigOptix's common stock for the three trading days ending one day prior to the closing of the combination and a special dividend of $3.17 per share in cash payable by GSI Technology.

GSI Technology acknowledged the unsolicited, non-binding and conditional proposal from GigOptix, and said its Board of Directors will promptly and carefully review and consider the proposal, respond to it and advise its stockholders of the Board's response.

GSI Technology closed at $5.41 Tuesday, a gain of 9.55%. GigOptix shares rose $0.01, to close at $1.34.

Allergan Could Acquire Salix for as Much as $190/Share

The Rumor:Shares of Salix Pharmaceuticals (NASDAQ: SLXP) rose sharply Tuesday, on a report from WSJ that Allergan (NYSE: AGN) could acquire the Raleigh, NC drug company for as much as $190 per share or $10 billion, according to sources. The rumored move is being seen as an attempt to make it more difficult for Valeant Pharmaceuticals (NYSE: VRX) to acquire Allergan.

Shares of Jazz Pharmaceuticals rose almost 3% for the day, on reports it too could be a potential takeover target. Allergan declined comment on the rumor. Salix did not respond to a request for a comment.

Salix Pharmaceuticals closed Tuesday at $160.80, a gain of 15.5%, while Allergan closed at $161.82, a gain of 4%. Shares of Valeant closed at $113.72 a gain of 3.5%.

Report Family Dollar Likely to Reject Dollar General Bid

The Rumor:
CNBC's David Faber reported Tuesday that Family Dollar's (NYSE: FDO) Board of Directors is likely to meet this week to discuss the bid of $78.50 per share in cash from Dollar General (NYSE: DG). According to Faber, Family Dollar's Board is likely to reject the offer.

Dollar Tree (NASDAQ: DLTR) offered $74.50 per share in cash and stock for Family Dollar on July 28. Family Dollar closed Tuesday at $79.70, loss of $0.11, while Dollar General lost $0.55, closing at $63.59.

Hearing Takeover Chatter in Quantum Fuel Systems

The Rumor:
Shares of Quantum Fuel Systems (NASDAQ: QTWW) spiked higher Tuesday on unconfirmed takeover chatter. Shares hit a high of $5.34.

A spokesperson for Quantum told Benzinga the company was not in sale talks. Quantum Fuel Systems closed Tuesday at $5.18, a gain of $0.09.

Source: benzinga.com

European Stocks are little changed before FOMC minutes

European stocks were little changed, following the biggest two-day gain since April, as investors awaited cues from central banks. U.S. index futures and Asian shares were little changed.

Heineken NV (HEIA) advanced 6.6 percent after reporting first-half profit that exceeded analysts’ estimates. Carlsberg A/S dropped 5.5 percent after the brewer cut its full-year earnings forecast. Balfour Beatty Plc slipped 5.9 percent after rejecting an increased bid by Carillion Plc.

The Stoxx Europe 600 Index retreated 0.1 percent to 335.18 at 8:13 a.m. in London. The equity benchmark gauge rallied 1.8 percent in the past two days as concern eased over the conflict between Ukraine and Russia, closing 3.3 percent above its low on Aug. 8. Futures on the Standard & Poor’s 500 Index and the MSCI Asia Pacific Index slipped 0.1 percent.

The Bank of England publishes the minutes from its August policy meeting at 9:30 a.m. in London, and the Federal Reserve releases the minutes of its July 29-30 gathering after European markets close. Both central banks are considering when to start raising interest rates in their respective countries.

The annual Fed Bank of Kansas City’s economic symposium starts tomorrow in Jackson Hole, Wyoming. Fed Chair Janet Yellen and European Central Bank President Mario Draghi will discuss their outlook for the economy and monetary policy on Aug. 22.

Heineken Earnings

Heineken gained 6.6 percent to 56.39 euros after the world’s third-largest brewer posted first-half earnings before interest and taxes of 1.45 billion euros ($1.93 billion), excluding some items. That surpassed the 1.32 billion euros that analysts had projected in a Bloomberg survey.

Vestas Wind Systems A/S advanced 2.3 percent to 281.6 kroner after raising its margin forecast on earnings before interest, taxes and special items. The world’s largest wind-turbine maker expects it will reach at least 6 percent this year, a percentage point higher than its previous estimate. The manufacturer reported net income of 94 million euros in the three months through June, rebounding from a 62 million-euro loss a year earlier.

Glencore Plc climbed 0.5 percent to 360.8 pence. The miner said first-half adjusted net income rose to $2.01 billion from a restated $1.9 billion a year earlier. That exceeded the $1.93 billion average of analysts’ estimates compiled by Bloomberg. It also announced a share buyback of $1 billion after completing the sale of a copper mine in Peru this month.

Carlsberg Forecast

Carlsberg declined 5.5 percent to 510 kroner. Russia’s biggest brewer said operating profit will rise at a low- to mid-single-digit pace on a so-called organic basis. The Tuborg beer previously forecast high-single-digit percentage growth. Carlsberg, which got 27 percent of its 2013 revenue from eastern Europe, said it expects the beer category to deteriorate in the second half of the year, with distributors in Russia stocking less.

Balfour Beatty slid 5.9 percent to 240.9 pence after the British builder rejected a new merger bid that Carillion made yesterday, citing risks from a strategy to reduce the scale of the U.K. construction business. Carillion’s proposal valued Balfour Beatty at 2.1 billion pounds ($3.5 billion) in an offer that represented a premium of 36 percent to the weighted average share price before the talks were announced.

Source: bloomberg.com

Asia stocks makes slight gains!

Asian stock markets got a slight boost Wednesday from positive U.S. economic figures that reinforced expectations of eventual Fed rate hikes and a stronger dollar.

KEEPING SCORE: Hong Kong's Hang Seng was up 0.1 percent at 25,154.62 while Japan's Nikkei 225 was little changed at 15,441.70. Australia's S&P/ASX 200 was also flat while Southeast Asian markets advanced. Taiwan's Taiex rose 0.4 percent to 9,278.81 while Seoul's Kospi shed 0.1 percent to 2,068.73.
US OUTLOOK: Signs that inflation is in control in the U.S., as well as fairly positive earnings reports and other indicators of a healthy economy, are helping Asian shares. Recent data on housing has reassured regional markets that the U.S. growth is on a relatively solid track. Also helping Asian shares are positive news from Home Depot, the largest U.S. home improvement retailer, which raised its annual profit forecast after reporting strong earnings results.

FEDERAL RESERVE: It's unclear when the U.S. Federal Reserve will start raising interest rates but many analysts predict sometime in 2015. That could be a plus for countries such as Japan, where giant exporter have much to gain from a strong dollar. Eyes are on a speech later in the day by Federal Reserve Chair Janet Yellen, as well as on the release of minutes from a previous Fed policy meeting.

ANALYST TAKE: "Traders will turn their attention to the FOMC minutes later tonight, recalling a less-hawkish-than-expected minutes in July, which led to a sell-off in the dollar," said Desmond Chua, market analyst with CMC Markets in Singapore. Traders were also expecting to get more of a clue about when the first interest rate hike might come, he added.

WALL STREET: The Standard & Poor's 500 gained 0.5 percent to 1,981.60. The index is up 1.4 percent for the week and is approaching its record close of 1,987.98 reached July 24. The Dow Jones industrial average rose 0.5 percent to 16,919.59. The Nasdaq composite climbed 0.4 percent to 4,527.51.
CURRENCIES. The dollar has surged recently to near 103 yen levels, and was trading at 103.19 yen, up from 102.95 yen late Tuesday. The euro fell to $1.3308 from $1.3322.

ENERGY: Benchmark U.S. crude for September delivery was up 49 cents at $94.97 a barrel in electronic trading on the New York Mercantile Exchange. It dropped sharply Tuesday and is down nearly 4 percent for August due to ample supplies. The September contract expires Wednesday. The more actively traded October contract was down 6 cents at $92.80 a barrel.

Source: yahoo.com

M&A Chatter for Monday August 18, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday August 18, 2014:

Dollar General Offers $78.50/Share for Family Dollar

The Deal:
Dollar General (NYSE: DG) announced Monday it has offered to acquire Family Dollar Stores (NYSE: FDO) for $78.50 per share in cash, for transaction value of $9.7 billion. Dollar Tree (NASDAQ: DLTR) offered $74.50 per share in cash and stock for Family Dollar on July 28, 2014.

Family Dollar confirmed receipt of the non-binding, unsolicited proposal from Dollar General. The company will consult with its legal and financial advisors, and will carefully review and consider the proposal.

Family closed at $79.81 Monday, a gain of 5%. Dollar General share rose 11.5%, to close at $64.14. Dollar Tree shares fell 2.5% to close at $54.26.

Skilled Healthcare to Merge With Genesis HealthCare in 100% Stock Transaction

The Deal:Skilled Healthcare Group (NYSE: SKH) announced Monday it has agreed to combine with Genesis HealthCare in an all-stock trasaction. Under the terms of the agreement, Skilled Healthcare shareholders will own 25.75% of the vote and value of the fully-diluted equity of the combined company. Genesis HealthCare shareholders will own 74.25%.

The deal is expected to close in early 2015.

Skilled Healthcare Group closed Monday at $6.15, a gain of more than 2%.

Rackspace Shares Rise on Activist Stake

The Activist Stake:
Blue Harbour Group reported Monday that It owns about 9.1 million shares (6.4%) of Rackspace Hosting (NYSE: RAX). Blue Harbour said Rackspace has "excellent long-term prospects that we believe are not reflected In the current share price."

Rackspace has been the subject of frequent takeover chatter.

Rackspace closed Monday at $31.82, and traded 3% higher after-hours.

Source: benzinga.com

What to look for in HP's earnings report

Hewlett-Packard reports fiscal third-quarter results with analysts expecting another drop in revenue as the tech giant struggles with a weakening personal-computer market and stiff competition in the corporate tech arena.

Hewlett-Packard Co. will report fiscal third-quarter results after the market closes on Wednesday.


H-P HPQ, +0.77%  has struggled with a weakening personal-computer market, where it is a major player. The company also has faced stiffer competition in the corporate technology market, especially with the rise of cloud computing, which lets businesses tap computing power in a network instead of setting up their own data centers.

But the Palo Alto, Calif.-based technology company’s shares got a boost in May when it unveiled a plan to cut as many as 16,000 jobs.

Here's what investors can expect:

Earnings: H-P is expected to report a profit of 89 cents a share, compared with a profit of 86 cents a share for the year-earlier period, according to a consensus survey by FactSet Research.

Revenue: H-P is seen reporting sales of $27.03 billion, down slightly from $27.23 billion in the same quarter last year.

Stock reaction: H-P shares rallied in May when the company reported slightly higher profit and announced another round of job cuts. The stock has climbed nearly 9% this quarter, and was up more than 25% year-to-date.

Key points: H-P has been focusing more on the higher margin segments of corporate IT, including services and data-center gear, as it struggles to become competitive in cloud computing.

UBS analyst Steven Milunovich said reports from NetApp Inc. NTAP, -0.60% and Cisco Systems Inc. CSCO, +0.82% point to “some improvement” in U.S. corporate spending, which could be a good sign for H-P’s server and data-storage businesses. But he also told clients in a note: “We are a bit concerned about recent weakening in Europe, where H-P is overweight relative to competitors.”

PCs also remain a problem for H-P, given the company’s huge exposure in a market that’s widely considered to be in steady decline.

While Milunovich said that “operational improvements along with a bottoming in the PC cycle should bolster near-term earnings,” he added that “the long term is more questionable, given H-P’s high dependence on hardware and vulnerability to cloud shifts.”

Source: marketwatch.com

Hong Kong Stocks Rise

Hong Kong stocks rose a second day, with the benchmark index headed for its highest close in six years, as investors weighed earnings reports and amid signs of possible de-escalation in global conflicts.

China Resources Power Holdings Co. led gains after net income rose. Casino operator Galaxy Entertainment Group Ltd. climbed 0.7 percent before posting results today. Cheung Kong Holdings Ltd. added 1.1 percent to pace a gain by developers. Cnooc Ltd. increased 0.9 percent after the oil explorer was upgraded at Credit Suisse Group AG. China Medical System Holdings Ltd. surged to a record after posting a gain in profit.

The Hang Seng Index rose 0.2 percent to 25,010.27 as of 9:52 a.m. in Hong Kong, poised for the highest close since May 22, 2008. The Hang Seng China Enterprises Index (HSCEI), also known as the H-share index, added 0.4 percent to 11,112.47. Data yesterday showed U.S. homebuilder sentiment rose in August, as Federal Reserve Chair Janet Yellen and central bankers prepare to meet in Jackson Hole, Wyoming.

“Today is driven by geopolitical risks seen as easing and good U.S. economic data ahead of Yellen’s speech at Jackson Hole,” said Stuart Beavis, head of institutional equity derivatives at Vantage Capital in Hong Kong. “I am a hint wary that markets are too calm and that they are too dismissive of the end of or calming of geopolitical risk. It’s definitely not over yet and should still be followed closely.”

The H-share gauge rose 20 percent from this year’s low in March through yesterday amid speculation China will add stimulus to meet its growth goal. The index traded at 7.7 times estimated earnings at the last close, compared with 11.5 for the Hang Seng Index (HSI) and 16.5 on the Standard & Poor’s 500 Index (SPX) yesterday.

U.S. Futures

Futures on the S&P 500 climbed 0.1 percent today. The U.S. equity benchmark index increased 0.9 percent yesterday, while the Nasdaq Composite Index jumped 1 percent to the highest level since 2000. A gauge of confidence in the U.S. housing industry climbed to the highest level in seven months

Israel and Palestinian militants agreed to extend their five-day truce by 24 hours. In Iraq, Kurdish and government forces retook the nation’s largest dam from rebels. The Red Cross is close to working out details of a safe-passage plan for a Russian aid convoy intended for southeastern Ukraine. Ukrainian Foreign Minister Pavlo Klimkin met Russian counterpart Sergei Lavrov for more than five hours of talks in Berlin as they sought to ease tensions.

Source: bloomberg.com

ITM Financial Releases New Binary Options Signals Software

For the first time in the binary options trading space, an artificial intelligence binary trading platform has been released!

ITM Financial has released their latest software package, named Proteus Elite, exclusively to clients of the binary brokerage, Binary International. This marks the first time an artificial intelligence program has been applied to binary options trading.

The binary options space has long been overdue for an artificial intelligence, learning system, to be implemented the trading market, said the ITM Financial CEO, Curt Dalton. The amount of information our data scientists and analytics team can put together on binary options and forex trading is astronomical. There are terabytes worth of information to pull trading patterns and recognition out of at a moments' notice for our traders, finished Dalton.

ITM Financial's binary trading software is some of the most successful on the market and also much sought after. ITM Financial inked an exclusive distribution deal with binary options broker Binary International this past year. The deal allows Binary International clients full access to the ITM suite of software products related to forex and binary trading. We think Binary International is a great gateway for out products based on their fast trading speed, great customer service, and strong reputation for fast customer payouts, It gives us a chance to expand our reach with Proteus to all new countries and traders. Binary International is launching their Arabic site this week as well, so we need to be ready for that.

Proteus Elite is a new set of algorithmic software that can learn Binary Options Signals and be aware of them in futures trading set ups. Forex and Binary Trading is in a whole new level with the roll out of Proteus Elite. The binary options space is fast moving and requires a massive amount of machine power to compute the constantly changing scenarios.

Source: globenewswire.com

Dollar rise on hopes of Ukraine progress

Asian stocks got a lift on Tuesday from an upbeat day on Wall Street, while the dollar got some help as US Treasury yields pulled away from recent lows on upbeat US housing data and hopes of progress in the Ukraine crisis.

Foreign ministers from Russia, Ukraine, Germany, and France gathered in Berlin over the weekend to discuss talks for a ceasefire or a political solution, and Russia's Foreign Ministry said on Monday a 'certain progress' was achieved during the talks.

Still, investors continued to cautiously monitor developments. Military spokesman said dozens of people, including women and children, were killed as they fled fighting on Monday when their convoy of buses leaving the rebel-held city of Luhansk was hit by rocket fire.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent in early trade, while Japan's Nikkei stock average added 0.8 percent. U.S. stocks marked solid gains on Monday as the Ukraine situation showed sign of stabilization. The Nasdaq Composite topped the key 4,500 mark for the first time since March 2000.

U.S. homebuilder sentiment rose in August to its highest since January, the National Association of Home Builders said on Monday, marking a third straight monthly gain and beating the mean estimate of analysts polled by Reuters. The data helped U.S. Treasury yields pull away from recent lows, with the yield on the benchmark 10-year U.S. Treasury note at 2.394 percent in Asia, compared with its U.S. close of 2.387 percent on Monday. It dropped as low as 2.30 percent on Friday, its lowest since June 2013. The dollar bought 102.63 yen, up about 0.1 percent, while the euro edged down to $1.3359, not far from this month's nine-month low of $1.3333. Against the safe-haven yen, the euro rose slightly to 137.09.

The dollar index, which tracks the U.S. unit against a basket of rivals, edged up to 81.598.

In commodities trading, spot gold steadied on the day at $1,297.84 an ounce but remained below the $1,300 level against the backdrop of improved risk sentiment.

U.S. crude added about 0.3 percent to $96.70 ahead of the September contract's expiration on Wednesday. Brent crude edged up about 0.1 percent to $101.71 after shedding nearly $2 a barrel overnight to its lowest price in over a year.

Source: yahoo.com

Oil drops again

Oil futures dropped again Monday, as investors pushed geopolitical concerns surrounding violence and unrest in Ukraine and Iraq to the back burner.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in September CLU4, +0.26% fell 94 cents, or 0.9%, to close at $96.41 a barrel. October Brent crude LCOV4, +0.06% on London's ICE Futures exchange fell $1.93 to $101.60, its lowest finish in more than a year.

Despite Nymex and Brent gaining on Friday on reports of Ukraine destroying a Russian convoy, oil prices registered a loss for the week ended Aug. 15. On Monday, Russia's foreign minister said an agreement was reached on delivery of what Moscow says is humanitarian aid to Ukraine, The Wall Street Journal reported.

Meanwhile, Iraqi officials said control of an important dam in northern Iraq had been wrested back from Sunni militants. Last week, Nymex September crude lost 30 cents, while Brent crude for October lost $2.09.

Money managers such as hedge funds continued to cut their bullish bets on WTI crude the week ended Aug. 12, according to data from the U.S. Commodity Futures Trading Commission. Analyst Tim Evans at Citi Futures said that Money managers sold 19, 786 contracts of WTI crude-oil futures and options in the week ended August 12. The selling is bearish, but the net exposure is down to the lowest level since April 2013.

In Ukraine, government forces continue to engage pro-Russian separatists, who claimed to have shot down a Ukrainian jet, while government forces said they destroyed a Russian military convoy. In Iraq, the US is supporting Kurdish forces trying to retake the strategic Mosul Dam from Islamist State fighters.

However, Barclays analysts say that soft fundamentals stemming from weak oil demand, record Saudi oil output and rebounding production in Libya are overshadowing geopolitical risks.

Nymex reformulated gasoline RBU4, +0.28% blendstock for September -  the benchmark gasoline contract - fell 3 cents to $2.66 a gallon, the lowest close since Feb. 5, while September heating oil HOU4, +0.17% fell 4 cents to $2.81.

Source: marketwatch.com

Gold Declines for Second Days

As Silver drops to two month low, Gold decreased or a second day as the outlook for an improving U.S. economy outweighed tension in Ukraine. Silver fell to a two-month low, while palladium retreated from the highest level in more than 13 years.

Gold for immediate delivery lost as much as 0.6 percent to $1,297.46 an ounce, and traded at $1,299.91 at 11:11 a.m. in Singapore, Bloomberg generic pricing showed. The metal on Aug. 15 dropped to $1,292.63, the lowest level since Aug. 6. Spot palladium climbed to $895.55 an ounce, the highest price since February 2001, before declining.

Bullion rallied 8.2 percent this year, even as the Federal Reserve reduced stimulus, in part on tensions in Ukraine and the Middle East. The Fed, which has kept its benchmark lending rate near zero percent since December 2008, will this week release minutes of its meeting in July, when it cut asset purchases for a sixth time. A report last week showed U.S. industrial output advanced, adding to signs that the recovery is gaining traction.

“Gold prices fell as improving U.S. data dented investor demand despite rising tensions in the Ukraine,” Mark Pervan, the head of commodity research at Australia & New Zealand Banking Group Ltd. in Melbourne, said in a note today. “Support from geopolitical tensions remains sporadic.”


Data this week may show a rebound in U.S. housing starts, while sales of previously owned homes probably held near an eight-month high in July. Fed Chair Janet Yellen is scheduled to speak Aug. 22 at a central bankers’ conference in Jackson Hole, Wyoming.

Source: yahoo.com

Forex market closed today for Parsi New Year

The forex and money market will remain closed on Monday on account of 'Parsi New Year'.

The rupee appreciated for the second week in a row last week and closed up by 39 paise to end at two-week high of 60.76 against the US dollar during the shortened week under review following sustained dollar selling by exporters and some banks amid bullish local equities.

The forex market was closed on Friday, August 15, on account of 'Independence Day'.

At the Interbank Foreign Exchange (Forex) market, the local unit commenced the week better at 61.09 a dollar from last weekend's close of 61.15 and dropped to a low of 61.30 on Wednesday on fresh dollar demand from importers, amid uptick in retail inflation and slowing industrial production growth.

Later, it bounced back to settle the week at its highest level of 60.76, showing a rise of 39 paise, or 0.64 per cent.

On Thursday, it gained 45 paise -- its best single day gain in three months -- amid fall in wholesale inflation to five-month low in July.

The benchmark S&P BSE Sensex snapped its two-week losses and closed the week sharply higher by 774.09 points, or 3.06 per cent, while FIIs bought shares worth Rs 1,595.72 crore during last week, including provisional data of August 13 and 14.

Meanwhile, the country's industrial production (IIP) slowed to 3.4 per cent in June as against 5 per cent in May, while retail inflation, as measured by consumer price index (CPI) rose to 7.96 per cent in July from 7.46 per cent in June, as per government data announced on Tuesday.

Source: zeenews.com