Market Flirts With Fresh Highs
November 17th, 2009 by Bryden Elssmann
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10406.96 | 136.49 | 1.3% |
| NASDAQ | 2197.85 | 29.97 | 1.4% |
| S P 500 | 1109.3 | 15.82 | 1.4% |
| FTSE 100 | 5382.67 | 86.29 | 1.6% |
| Nikkei 225 | 9791.18 | 20.87 | 0.2% |
| ASX 200 | 4,755 | 48.7 | 1.0% |
| COMEX Gold - Dec 09 | 1139.2 | 22.5 | 2.0% |
| COMEX Silver - Sep 09 | 18.4 | 1.02 | 5.9% |
| COMEX Copper - Sep 09 | 310.35 | 13.1 | 4.4% |
| WTI Spot | 78.9 | 1.96 | 2.5% |
| AUD-USD | 0.9375 | 0.0038 | 0.4% |
| Aluminium | 1903.5 | -14.5 | -0.8% |
| Copper | 6500 | 25 | 0.4% |
| Lead | 2241 | -10 | -0.4% |
| Nickel | 16185 | -145 | -0.9% |
| Tin | 14855 | 80 | 0.5% |
| Zinc | 2136 | 5 | 0.2% |
Australian stocks are set to open higher on Tuesday, bolstered by resources companies, after metals and oil prices rose on a weaker U.S. dollar and U.S. retail sales data spurred hopes for an economic recovery. The Dow closed up 136.49 points, or 1.33 percent to 10406.96 while the S&P 500 gained up 15.98 points, or 1.38 percent to 2197.85.
Wall Street was helped by a report from Japan's government that said the nation's gross domestic product grew better than expectations last quarter.
Following the report, commodities prices climbed higher around the globe, while the US dollar moved lower against the yen, euro and the Australian dollar with the US dollar index hitting a fresh 15-month low. Australian miners should open the session higher this morning, with BHP likely to open up 1.2% based on overseas trading.
Investors will also be waiting to see if AMP Ltd and France's AXA will raise their bid for AXA Asia Pacific Holdings.
Gold jumped $22.70 to US$1,139.40 an ounce for the December contract on Comex with a weaker US dollar boosting demand for the precious metal. Gold reached a fresh high of US$1143 overnight. Oil also traded firmer up $2.55 to US$78.90 a barrel.
The SPI is currently up 49 points to 4820.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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