Dow Jones Down 36.73pts
January 13th, 2010 by Lawrence Grasso
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10,627.26 | -36.73 | -0.3% |
| NASDAQ | 2,282.31 | -30.1 | -1.3% |
| S P 500 | 1,136.22 | -10.76 | -0.9% |
| FTSE 100 | 5,498.71 | -39.36 | -0.7% |
| Nikkei 225 | 10,879.14 | 80.82 | 0.7% |
| ASX 200 | 4,900.00 | -51.2 | -1.0% |
| COMEX Gold - Dec 09 | 1,129.30 | -22.1 | -1.9% |
| COMEX Silver - Sep 09 | 18.36 | -0.335 | -1.8% |
| COMEX Copper - Sep 09 | 335 | -9.1 | -2.6% |
| WTI Spot | 80.79 | -1.6 | -1.9% |
| AUD-USD | 0.9201 | -0.0098 | -1.0% |
| Aluminium | 2,320.50 | 59 | 2.6% |
| Copper | 7,685.00 | 239 | 3.2% |
| Lead | 2,576.00 | 52 | 2.1% |
| Nickel | 18,300.00 | 175 | 1.0% |
| Tin | 17,825.00 | 410 | 2.4% |
| Zinc | 2,579.00 | 50 | 2.0% |
A disappointing start to the earnings season sent US stocks lower with the Dow Jones Industrial average down 36.73 pts or .34% to 10627.26.
Alcoa slumped 9.6% after the country’s largest aluminum producer reported a lower fourth-quarter profit than analysts had forecast. Chevron added to the cautious mood on Wall Street after announcing that its profit from the fourth quarter would be lower than the previous three months due to weaker refining margins. Shares in Chevron, the country’s second-largest energy producer, fell 0.9%. Banking stocks also suffered after the Obama administration said it was planning to impose a new levy on the sector to pay for the financial bail-out. Bank of America dropped 2.5% while Citigroup was down 2.6%.
On the local front today Australian equities will open the session lower with profit taking on the minds of some traders. With Gold and Oil both taking a hit over night, we should see some consolidation in NCM and WPL. Further consolidation today could be looked at as a potential buying opportunity for the resource sector, remembering that some of the majors are going EX dividend next month (WPL, BHP RIO etc).
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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