Dow Jones Down 36.88 points
May 12th, 2010 by Lawrence Grasso
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10,748.26 | -36.88 | -0.3% |
| NASDAQ | 2,375.31 | 0.64 | 0.0% |
| S P 500 | 1,155.79 | -3.94 | -0.3% |
| FTSE 100 | 5,334.21 | -53.21 | -1.0% |
| Nikkei 225 | 10,411.10 | -119.6 | -1.1% |
| ASX 200 | 4,548.00 | -51.8 | -1.1% |
| COMEX Gold - Dec 09 | 1,220.30 | 19.5 | 1.6% |
| COMEX Silver - Sep 09 | 19.294 | 0.742 | 4.0% |
| COMEX Copper - Sep 09 | 320.9 | -1.9 | -0.6% |
| WTI Spot | 75.94 | -1.21 | -1.6% |
| AUD-USD | 0.8954 | -0.0075 | -0.8% |
| Aluminium | 2,104.50 | 39 | 1.9% |
| Copper | 7,165.50 | 293.5 | 4.3% |
| Lead | 2,081.00 | 102 | 5.2% |
| Nickel | 23,160.00 | 990 | 4.5% |
| Tin | 17,950.00 | 395 | 2.3% |
| Zinc | 2,116.00 | 71 | 3.5% |
Stocks in the U.S fell overnight with the Dow Jones Industrial Average ending the session down 36.88 points or 0.34% to 10748.26. The fall was led by commodity producers and banks, as skepticism that an almost $1 trillion European loan package will halt the region’s debt crisis. Toward the end of the trading session stocks pared early declines, with the Dow Jones Industrial Average recovering most of a 100-point drop, on speculation Cameron’s government will cut the U.K. budget deficit and prevent the European debt crisis from worsening.
The Australian market is set for a slightly positive open this morning, with the SFE200 futures looking to open up 20 points to 4577. Commodities overnight were weak. Look for BHP and RIO open weak but hopefully find support throughout the day. With a new record high on gold keep an eye on gold plays like NCM and LGL to push up between 1-2% in today’s trading. Conversely, oil is finding it very harder to hold onto recent ground and there is potential for further declines back to around $70 a barrel. The major oil plays like WPL and OSH will find it very difficult to find support until the underlying commodity finds its feet.
CBA – March quarter cash earnings:
Commonwealth Bank of Australia (CBA) reported its cash earnings for the three months to March came in around $1.5 billion, boosted by solid volume growth and disciplined cost control. In a trading update, Commonwealth Bank stated that it recorded impairment expenses of around $500 million for its fiscal third quarter.
Australia's largest bank said while the economic outlook had improved during the past 12 months, operating conditions remain challenging.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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