Dow Jones Closes Up 199.89 pts
October 30th, 2009 by Katy Loi
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 9962.58 | 199.89 | 2.0% |
| NASDAQ | 2097.55 | 37.94 | 1.8% |
| S P 500 | 1066.11 | 23.48 | 2.3% |
| FTSE 100 | 5137.72 | 57.3 | 1.1% |
| Nikkei 225 | 9891.1 | -183.95 | -1.8% |
| ASX 200 | 4,575 | -110.4 | -2.4% |
| COMEX Gold - Dec 09 | 1047.1 | 16.6 | 1.6% |
| COMEX Silver - Sep 09 | 16.655 | 0.415 | 2.6% |
| COMEX Copper - Sep 09 | 302.95 | 9.9 | 3.4% |
| WTI Spot | 80.13 | 2.67 | 3.4% |
| AUD-USD | 0.9147 | 0.018 | 2.0% |
| Aluminium | 1900 | -28.5 | -1.5% |
| Copper | 6424.5 | -50.5 | -0.8% |
| Lead | 2297 | 54 | 2.4% |
| Nickel | 18460 | -40 | -0.2% |
| Tin | 15400 | 305 | 2.0% |
| Zinc | 2207 | -34 | -1.5% |
Overnight the Dow closed up 199.89 points, or 2.05%, to 9962.58, its largest one-day point gain since July 15, when it surged 257 points. The Standard & Poor's 500, which had declined for four straight sessions, rose 2.25% to 1066.11, with gains in all its sectors, led by a 4.3% jump in financials and a 3.2% rise in its materials category. European markets were higher.
London’s FTSE up 57 points, Paris rose 50 points and Frankfurt added 91 points. Asian markets finished lower: Hong Kong’s Hang Seng fell 497. Tokyo’s Nikkei dropped 184 and Shanghai Composite lost 71.
The US dollar and Yen may extend their losses against the Euro after dropping the most in at least seven weeks as the U.S. economy grew in the third quarter more than economists forecast, encouraging higher-yield demand. The U.S. and Japanese currencies slid yesterday versus most of their 16 major counterparts tracked by Bloomberg as stocks and commodities rallied and Treasuries fell.
The gains came after the government's first estimate on third-quarter gross domestic product rose at a seasonally adjusted 3.5% annual rate. Gold rose the most in three weeks as a sliding dollar increased the metal’s appeal as an alternative investment. Oil is higher, adding $2.41 to US$79.87 a barrel for December light crude in New York.
Today, Australian stocks are set to recover on Friday after Wall Street bounced back on relief the U.S. economy had returned to growth in the third quarter, bolstering the prospects for company profits.
Share index futures stood at 4,642.0, a 67.3 point premium to the 4,574.7
close in the underlying benchmark S&P/ASX 200 index .AXJO on Thursday. Resource stocks should open stronger after metal prices, gold and oil all rose on the U.S. growth figures, which boosted demand prospects for metals and fuel.
Macquarie Group Ltd MQG.AX, Australia's largest investment bank, is due to report first-half profit. The average forecast of seven analysts surveyed by Reuters was for net profit A$487 million. Macquarie's own forecast was for around A$436 million.
There are a number of companies going ex-dividend today and among them are Alcoa with just over a 2.8 cent unfranked divided, Harvey Norman with a 6 cent fully franked dividend and the Warehouse Group with close to a 12.82 cent unfranked dividend.
Coming up in today’s economic news, the Reserve Bank of Australia releases financial aggregates data for September.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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