Debt drags Dow below 10,000
February 9th, 2010 by Bryden Elssmann
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 9,908.39 | -103.84 | -1.0% |
| NASDAQ | 2,126.05 | -15.07 | -0.7% |
| S P 500 | 1,056.74 | -9.45 | -0.9% |
| FTSE 100 | 5,092.33 | 31.41 | 0.6% |
| Nikkei 225 | 9,951.82 | -105.27 | -1.0% |
| ASX 200 | 4,521.00 | 7.3 | 0.2% |
| COMEX Gold - Dec 09 | 1,066.00 | 13.2 | 1.3% |
| COMEX Silver - Sep 09 | 15.1 | 0.27 | 1.8% |
| COMEX Copper - Sep 09 | 292.5 | 6.75 | 2.4% |
| WTI Spot | 71.64 | -0.06 | -0.1% |
| AUD-USD | 0.8644 | -0.0032 | -0.4% |
| Aluminium | 1,949.00 | -103 | -5.0% |
| Copper | 6,242.00 | -329 | -5.0% |
| Lead | 1,925.00 | -80 | -4.0% |
| Nickel | 17,350.00 | -905 | -5.0% |
| Tin | 15,665.00 | -955 | -5.7% |
| Zinc | 1,981.00 | -101.5 | -4.9% |
The Dow finished below the 10,000 level for the first time in three months, dragged lower by financial stocks. investors remained concerned about Europe’s debt woes and the U.S. economic recovery.
The Dow tumbled 104 points, or 1% ending at 9,908 while the S&P500 lost 9 points or 0.9%.
2010 is proving to be a volatile period for investors as the global recovery fails to exceed market expectations. Many investors have priced in a recovery while ignoring sovereign debt issues. Markets have retreated on fears that Greece might default on its debt, potentially triggering other European nations to default, notably Portugal and Spain. Debt concerns battered the Euro and Aussie dollar as the Greenback pushed higher.
The Australian share market may open lower this morning after Wall St closed weaker and investors continue to fret over the euro zones sovereign debt troubles, with sentiment also cautious ahead of a rush of corporate earnings this week.
Alumina is to release its annual results, Cochlear its first half results, David Jones is expected to report its second quarter sales results, Macquarie’s third quarter results are due out and Singtel is also to release its third quarter results. Others to watch include, BHP and CBA which report tomorrow followed by Rio Tinto on Thursday.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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