Crude reversal fuels oilers
December 23rd, 2009 by Lawrence Grasso
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10464.93 | 50.79 | 0.5% |
| NASDAQ | 2252.67 | 15.01 | 0.7% |
| S P 500 | 1118.02 | 3.97 | 0.4% |
| FTSE 100 | 5328.66 | 34.67 | 0.7% |
| Nikkei 225 | 10378.03 | 194.56 | 1.9% |
| ASX 200 | 4,704 | 69.1 | 1.5% |
| COMEX Gold - Dec 09 | 1086.7 | -9.3 | -0.8% |
| COMEX Silver - Sep 09 | 17 | -0.035 | -0.2% |
| COMEX Copper - Sep 09 | 314 | -1.85 | -0.6% |
| WTI Spot | 73.44 | 0.97 | 1.3% |
| AUD-USD | 0.8767 | -0.0048 | -0.5% |
| Aluminium | 2231 | 17 | 0.8% |
| Copper | 6880 | 39 | 0.6% |
| Lead | 2320 | 5.5 | 0.2% |
| Nickel | 17515 | 465 | 2.7% |
| Tin | 15875 | 95 | 0.6% |
| Zinc | 2408 | 10 | 0.4% |
The Dow Jones Industrial Average rose 50.79 points, or 0.49%, to 10464.93. The gains came as used home sales for November were particularly strong, having risen more than double economists expectations. This saw stocks exposed to the housing sector bounce aggressively.
On the local front today the XJO should open up between 20 - 40 points. Commodities were mixed overnight and this may see a quite day for the miners with BHP and RIO opening flat. Keep an eye on the oilers as crude found it feet and had a positive reversal on the daily chart. With gold consolidating further, NCM and LGL are in the spot light for a buying opportunity.
Tomorrow is a half day with the market closing at 2 pm Sydney time.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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