Increasing momentum
August 26th, 2009 by Lawrence Grasso
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 9539.29 | 30.01 | 0.3% |
| NASDAQ | 2024.23 | 6.25 | 0.3% |
| S P 500 | 1028 | 2.43 | 0.2% |
| FTSE 100 | 4916.8 | 20.57 | 0.4% |
| Nikkei 225 | 10497.36 | -83.69 | -0.8% |
| ASX 200 | 4,406 | -20.3 | -0.5% |
| COMEX Gold - Dec 09 | 946 | 2.3 | 0.2% |
| COMEX Silver - Sep 09 | 14.29 | 0.095 | 0.7% |
| COMEX Copper - Sep 09 | 285.6 | -5.9 | -2.0% |
| WTI Spot | 73.82 | 0 | 0.0% |
| AUD-USD | 0.8357 | -0.0032 | -0.4% |
| Aluminium | 1885 | 4 | 0.2% |
| Copper | 6285.5 | -75.5 | -1.2% |
| Lead | 2006 | 60.5 | 3.1% |
| Nickel | 19600 | -95 | -0.5% |
| Tin | 14600 | -225 | -1.5% |
| Zinc | 1805.5 | -34.5 | -1.9% |
The Dow Jones Industrial average rose 30 pts or .32%, increasing the upward momentum in the US. Consumer sentiment rose more than expected in August and expectations hit the highest level since the recession began, indicating that Americans' pessimism about the economy may be lifting. The housing sector also showed signs of life as a national measure of home prices posted its first quarterly increase in three years.
Australian stocks may find support on Wednesday from a gain on Wall St after U.S. economic data boosted optimism over a recovery. Falls in metals and oil prices may pressure heavyweight resources stocks.
Company earnings reports and accompanying outlooks will also be in the spotlight, with property firm Westfield (WDC) , ports operator Asciano (AIO) and broadcaster Seven Network (SEV) among those to report on Wednesday.
Tomorrow, Thursday, is OPTIONS EXPIRY. Please review your position and contact your adviser to discuss your alternatives.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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