The Dow Jones Closes Positive, up 100 pts
May 24th, 2010 by Bryden Elssmann
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10,193.39 | 125.38 | 1.2% |
| NASDAQ | 2,229.04 | 25.03 | 1.1% |
| S P 500 | 1,087.69 | 16.1 | 1.5% |
| FTSE 100 | 5,062.93 | -10.2 | -0.2% |
| Nikkei 225 | 9,784.54 | -245.77 | -2.5% |
| ASX 200 | 4,305.00 | -11.1 | -0.3% |
| COMEX Gold - Dec 09 | 1,187.00 | -1.6 | -0.1% |
| COMEX Silver - Sep 09 | 17.651 | -0.064 | -0.4% |
| COMEX Copper - Sep 09 | 306.4 | 11.95 | 4.1% |
| WTI Spot | 70 | -0.8 | -1.1% |
| AUD-USD | 0.8311 | 0.0134 | 1.6% |
| Aluminium | 1,991.00 | 44 | 2.3% |
| Copper | 6,639.00 | 139 | 2.1% |
| Lead | 1,722.50 | 2.5 | 0.1% |
| Nickel | 21,200.00 | 150 | 0.7% |
| Tin | 17,255.00 | 145 | 0.8% |
| Zinc | 1,855.50 | 38 | 2.1% |
The Dow closed positive, up over 100 points in the final minutes of Friday trading after a volatile session. Many had expected another big sell off, with the futures indicating a weak session. The Dow dropped more than 100 points at the open, and clawed back in last hour of trading to close over 125 point, or 1.3% up, ending just shy of 10,200. Still, the gains weren’t enough to compensate for losses earlier in the week, the Dow finished down about 4% percent for the week.
Stock markets around the world are falling fast from recent peaks. The Australian market has slipped into “correction territory” with the XJO, benchmark index, down more than 10% from April highs. The Australian index dropped 6.4 percent last week, the worst weekly performance since October 2008 at the height of the global crisis. The Australian market has been sold off in response to European debt crisis and the proposed resource tax, China’s efforts to cool growth. Other markets have fallen harder; the Shanghai Composite index has entered bear territory and is now down 26% from its August high, with Brazil off more than 16% from its peak in April.
The Aussie dollar is trading above 82 US cents, with talk the Reserve Bank of Australia intervened in the AUD/USD cross on Friday morning. The market is set to open to the upside, the SPI up 58 points or 1.35%..
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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