S&P 500 Stops Short Of 2,000 Points Following Late Day Sell-Off
Late day selling stalled any chance of the S&P 500 crossing the 2,000 mark after three days of struggle. More than seven percent of shares were traded on Thursday as compared to Wednesday. The S&P 500 shed 3.1 points to close at 1,998 while the Dow Jones also dropped 8.7 points to 17,070. The Nasdaq Composite .IXIC ended Thursday 10.28 points lower at 4,562.29. Following the European Central Bank’s new stimulus measures, energy shares that sunk with oil prices stemmed an early rally while investors also remained cautious ahead of Friday’s U.S. jobs data report. Analysts expect an August payroll growth of 225,000. The S&P energy index .SPNY was the worst performer in the S&P, dropping 1.3 percent.
Major Winners and Losers
Major movers on Thursday included TIBCO Software (NASDAQ: TIBX). The company’s shares were up 2.7 percent to $21.61 after it announced its intention to explore strategic options through an investment bank. American clothing company PVH (NYSE: PVH) second quarter earnings rose above expectations, which sent its shares 9.6 percent higher to $128.38. Following the ruling by a U.S. district judge of gross negligence on the part of British Petroleum in the 2010 Gulf of Mexico oil spill, shares of BP Plc (BP.N) were down almost 6 percent at $44.89. Telecommunications networking equipment supplier Ciena (NYSE: CIEN) was among the major losers on the day after the company’s weak fiscal fourth-quarter forecast although it reported better third-quarter results. Investors may find this the right time to buy fresh shares of tech giant Apple, which is a week away from its ‘Fab Fall’ launch. Shares of Apple were already up 0.80% to $99.72. The company is expected to unveil two sizes of its iPhone 6 and announce the launch of iWatch.
U.S. Dollar Remains Firm; Euro Tumbles
The U.S. dollar is at its strongest since the beginning of the year and was 1.04 percent higher on the session. The EUR/USD was at a one year low, falling 1.6 percent to $1.294 as the greenback strengthened. The pair was trading at $1.34 only a fortnight ago. The euro took a beating following the ECB’s plans to buy asset backed securities and covered bonds next month in addition to cutting interest rates to record lows. The single currency also hit a one month low against the yen and was last trading at 135.97 yen. Some analysts expect the weakening trend to continue. The euro bounced back to 1.2064 against the Swiss franc after dipping to a near two-year low of 1.2045. The Australian dollar eased to $0.9343 but surged to a 15-month high of 98.59 yen.
60-Second Trades
Binary Options Tip
60 second binary options trading is an exciting investment opportunity to earn as much as 70% returns. A fast expiration time brings with it a number of benefits while you ought to be aware of the process before you decide to get started. This type of trading is possible in the forex market where you can trade the smallest of price movements, which is not usually possible when you trade with hourly, daily, or weekly expiration times. Like other binary options trading your risk is limited to the amount you have invested. It is most suitable for traders who aren’t too comfortable with long expiration contracts and face the risk of making hasty decisions. However, if you are a novice you may want to begin with a longer time frame so that you can figure out your mistakes and analyze the market before you get into 60 seconds expiry contracts.
The first factor to consider before you begin 60 seconds trading is the types of charts that work. Analyze one hour candlestick charts to determine the overall trend which could be bearish or bullish. Over a period, you can begin to use smaller charts and draw resistance lines on 5-minute charts to act as a guide for price action. Later on, consider overall trends and candle formations to place trades based on 1 minute charts.