Dow pushes above 10,000
November 6th, 2009 by Bryden Elssmann
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10005.96 | 203.82 | 2.1% |
| NASDAQ | 2105.32 | 49.8 | 2.4% |
| S P 500 | 1066.63 | 20.13 | 1.9% |
| FTSE 100 | 5125.64 | 17.75 | 0.3% |
| Nikkei 225 | 9717.44 | -126.87 | -1.3% |
| ASX 200 | 4,508 | -32.1 | -0.7% |
| COMEX Gold - Dec 09 | 1089.3 | 2 | 0.2% |
| COMEX Silver - Sep 09 | 17.41 | 0.005 | 0.0% |
| COMEX Copper - Sep 09 | 295.7 | -3.6 | -1.2% |
| WTI Spot | 79.62 | -0.78 | -1.0% |
| AUD-USD | 0.9102 | -0.0006 | -0.1% |
| Aluminium | 1886 | -6.5 | -0.3% |
| Copper | 6527.5 | -43.5 | -0.7% |
| Lead | 2320 | 8 | 0.3% |
| Nickel | 17810 | -355 | -2.0% |
| Tin | 15010 | 10 | 0.1% |
| Zinc | 2185.5 | -16 | -0.7% |
The Aussie market is expected to open higher after U.S. markets rallied overnight with the Dow closing above the 10,000 level on lower jobless claims data and stronger October retail sales reports. Local gold companies will rally as the price of the precious metal continues to advance although metal prices generally lost ground and and oil prices are mildly lower.
The Aussie Dollar is buying 91 US cents, 82.56 Yen, 61.22 Euro cents and 54.91 Pence Sterling.
The Reserve Bank of Australia will release its quarterly statement on monetary policy. Also out today is the Australian Industry Group/Housing Industry Association October performance of construction index.
Qantas (QAN) shares closed 1.5% lower yesterday at $2.62. Qantas’ 130 professional engineers have voted overwhelmingly in favour of taking industrial action against the airline which could see disruptions to flights in coming weeks. The engineers are required to approve any significant maintenance before aircraft are permitted to fly. The dispute is over the out-of-hours work required to maintain the airline's fleet and demand for pay parity with other workers. Members of the union, the Association of Professional Engineers, Scientists and Managers, will meet today in Sydney and Melbourne to decide what action to take. Qantas reported a sharply lower 2009 net profit compared to the 2008 result.
Oil Search (OSH) shares lost 1.19% yesterday to $5.83. Late yesterday the oil and gas producer reported its first discovery outside of Papua New Guinea. Oil Search said that testing had discovered hydrocarbons at its 60% owned Tubb'a-1 well in Block 3, Yemen. Oil Search said the well produced gas and condensate at rates up to nine million standard cubic feet per day and 450 barrels a day and said further work is underway to define the producing intervals. Oil Search’s 2008 net profit recovered from a drop in 2007.
Monday will see a number of stocks going ex div including ARB, Westpac and Macquarie.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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