Dow Touches 11,000 pts
April 12th, 2010 by Cale McCulloch
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10,997.35 | 70.28 | 0.6% |
| NASDAQ | 2,454.05 | 17.24 | 0.7% |
| S P 500 | 1,194.37 | 7.94 | 0.7% |
| FTSE 100 | 5,770.98 | 58.28 | 1.0% |
| Nikkei 225 | 11,204.34 | 36.14 | 0.3% |
| ASX 200 | 4,948.10 | 10.2 | 0.2% |
| COMEX Gold - Dec 09 | 1,162.00 | 9.1 | 0.8% |
| COMEX Silver - Sep 09 | 18.351 | 0.224 | 1.2% |
| COMEX Copper - Sep 09 | 359.4 | 0.75 | 0.2% |
| WTI Spot | 84.93 | -0.52 | -0.6% |
| AUD-USD | 0.9339 | 0.0053 | 0.6% |
| Aluminium | 2,357.50 | 62 | 2.7% |
| Copper | 7,896.00 | 100.5 | 1.3% |
| Lead | 2,280.00 | 55 | 2.5% |
| Nickel | 25,200.00 | 760 | 3.1% |
| Tin | 18,605.00 | 25 | 0.1% |
| Zinc | 2,356.00 | 31 | 1.3% |
The Dow touched 11,000 for the first time since October 2008 on Friday night, but closed just shy at 10,997, a gain of some 70 points while the broader S&P 500 ended up 8 points and the tech heavy NASDAQ was higher by 17 points or 0.71% for the session. A strong rally on the back of the Gold and energy sectors, with strong results out by the likes of Chevron, but we did see a downgrade on the close for Alcoa.
The broad based strength in commodities will bring strength to the local market this morning, with all of the base metals closing higher by between 0.4 and 2%, while Gold continued its climb, ending up USD 9.50 a Troy ounce at 1156, while Oil steadied throughout the session, finishing the night modestly lower at USD 84.94 a barrel.
This week markets will be firmly focused on the US reporting season which gets underway this evening led by Alcoa, while JP Morgan, Google and GE are also set to report this week. Markets today will be focused on news out over the weekend from Greece that there has been a new package from the Euro zone nations to the tune of some 30 Billion Euros at a very low interest rate. The news has led to a rally in the Euro overnight.
Australia’s two largest gold miners will be in focus today as the takeover continues to unfold, aided by ongoing strength in the Gold price. While BHP ADR trading in NY show the miner opening at an AUD equivalent of 44.09 compared with 43.90 domestically on Friday.
The SPI has us opening higher by some 19 points this morning.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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