U.S. stocks closed lower on Wednesday, dropping in a broad decline as the outcome of negotiations between Greece and its international creditors remained up in the air, prompting investors to drop riskier assets like equities.
Even though the S&P 500 held support again on Friday, May 29, falling from its previous up breakout last week, it still feels vulnerable. Whether it stalls or makes a move this week, there’s a way for traders to take advantage of their view on exactly where this market is headed—and they can do so with limited risk using binary options.
After weeks of talks with its international creditors, Greece requested to bundle its four payments to the IMF into one lump-sum totalling €1.5 billion and pay this on June 30. On the commodities side, crude oil fell sharply from mid-week as speculators prepared for the OPEC’s semi-annual meeting on Friday. The key decision the cartel had to make was whether to raise its official output target to around 31 million barrels of oil per day.