Texas Instruments Holds Steady. Watch This Bounce Area
Texas instruments Inc.(NYSE:TXN) is a leading semiconductor stock that is trading higher by 0.41 cents to $33.76 a share. The stock has pulled back from its first hour high of $34.12 a share. Traders can watch for short term intra-day support around the $33.50 area. This level should see a small bounce.
Stock Market Analysis: Markets Flush Again As Oil Nears $100. Key Levels To Watch
Cliffs Natural Resources Inc.(NYSE:CLF) is a leading iron ore pellet producer. The stock is trading higher today by $1.81 to $94.55 a share. The move higher comes as the U.S. Dollar Index has sold off sharply and many commodity stocks are catching a bid higher today. Short term traders should watch the $95.20 and $96.00 levels for intra-day resistance.
Stock Market Video: Friday Effect In Play, Key Trades, Setups, Profits!
Thin trading conditions and economic reports led to a “roller-coaster” type trading session in the Euro on Tuesday. The European single currency rallied on a better than expected German jobs report, topped on strong U.S. Consumer Confidence data then, after trading sideways throughout the mid-session, drifted lower into the close following the release of the Fed minutes.
Euro Pressured Early but Settles into Range on Slow News Day
Lower Asian and European equity markets overnight triggered a break in the Euro early in the session, but stable U.S. stock markets helped to hold it in a range most of the New York session.
Without any major economic reports to push the markets around, traders have decided to focus on two elements: the start of U.S. earnings season and the European bank stress results.
U.S. Stocks Close Nearly Unchanged after Volatile Trading Day
Equity markets finished nearly unchanged on Friday after a volatile and tumultuous trading session. The indices weakened in premarket trading following a surprise move by China’s central bank to curb excessive credit demands. Recent data has shown that China’s economy may be heating up too fast which could lead to an asset bubble in the real estate and housing markets.
The U.S. Dollar traded most of the day in a range and finished lower. With the lack of major economic news this week, global investors were forced to worry about another round of U.S. debt. Throughout the week, the Treasury is going to add to its already massive debt pile by another $118 billion.
The U.S. Dollar turned an early weak session into a gain by the close of the day. The Dollar was trading lower when the Fed announced it would keep pressure on interest rates. This news triggered a spike up in foreign currency markets, but by the end of the day, the Dollar recovered, reversing the day in most Forex pairs.