Dow Jones Down 113.96 points In The US Overnight
May 14th, 2010 by Bryden Elssmann
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10,782.95 | -113.96 | -1.0% |
| NASDAQ | 2,394.36 | -30.66 | -1.3% |
| S P 500 | 1,157.43 | -14.24 | -1.2% |
| FTSE 100 | 5,433.73 | 50.28 | 0.9% |
| Nikkei 225 | 10,620.55 | 226.52 | 2.2% |
| ASX 200 | 4,652.50 | 79.5 | 1.7% |
| COMEX Gold - Dec 09 | 1,233.00 | -10.1 | -0.8% |
| COMEX Silver - Sep 09 | 19.46 | -0.203 | -1.0% |
| COMEX Copper - Sep 09 | 324.1 | 5.3 | 1.7% |
| WTI Spot | 78.49 | 2.56 | 3.4% |
| AUD-USD | 0.8962 | 0.0029 | 0.3% |
| Aluminium | 2,100.50 | 72.5 | 3.6% |
| Copper | 7,082.00 | 197 | 2.9% |
| Lead | 2,026.00 | 50 | 2.5% |
| Nickel | 22,805.00 | 730 | 3.3% |
| Tin | 17,795.00 | 370 | 2.1% |
| Zinc | 2,069.00 | 58 | 2.9% |
US Markets
U.S. stocks fell, led by banks and technology companies, on reports that more mortgage-bond deals are being scrutinized by prosecutors and an earnings forecast from Cisco Systems Inc. that disappointed some investors.
The Standard & Poor’s 500 Index retreated 1.2 percent to 1,157.44 at 4 p.m. in New York. The Dow Jones Industrial Average declined 113.96 points, or 1.1 percent, to 10,782.95.
Asian Markets
Asian stocks fell, following Sony Corporations forecast profits that missed estimations by analysts, plummeting 6.5percent in Tokyo. This was the biggest drag on the MSCI Asia Pacific Index.
Juichi Wako stated that, “Commodity related stocks should slump as investors are reducing risk assets.”
The MSCI Asia Pacific Index fell 1 percent to 129.89, with 10 stocks declining for everyone that rose.
The Nikkei 225 Stock Average also fell 1.6 percent.
Additionally, the Euro and Dollar were weaker against the Yen and commodity prices declined.
The weaker Euro and Dollar further dragged down Japanese companies by cutting the value of overseas income when converted into their home currency.
European Markets
The Euro sank on concern European nations’ debt-cutting measures to avoid using an almost $1 trillion bailout plan will undermine growth.
Australian Markets
The S&P/ASX 200 Index has dropped 0.7 percent.
The Australian dollar is still heading for a weekly gain as higher-yielding assets surged after European policy makers announced a loan package worth nearly $1 trillion as well as government-bond purchases to aid debt-laden nations.
Healthscope Ltd. (HSP.ASX), Australia’s second-largest hospital owner received a buyout proposal from a private equity group valuing the company at about A$ 1.74 billion.
The group offered A$ 5.50 a share for all of Healthscope’s stock, the Melbourne-based company said in a regulatory filing, without naming the bidder. The offer is 22 percent higher than yesterday’s closing share price. The proposal is “indicative and non-binding”, and Healthscope’s board recommends shareholders take no action at this stage, according to the statement.
Gold eased from its all time high however it still remains a safe-haven as concern still remains regarding the effectivines of the $1trillion European resucue packeage. Gold is holding near never before seen levels as investors shift funds into the commoditiy as fears about Eurozone sovereign debt continues to grow. The fall in gold over night, down $US13.90 to $US1229.20 an ounce can be attributed to short-term traders locking in profits.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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