Market On The Mend
December 2nd, 2009 by Lawrence Grasso
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10471.58 | 126.74 | 1.2% |
| NASDAQ | 2175.81 | 31.21 | 1.5% |
| S P 500 | 1108.86 | 13.23 | 1.2% |
| FTSE 100 | 5312.17 | 121.49 | 2.3% |
| Nikkei 225 | 9572.2 | 226.65 | 2.4% |
| ASX 200 | 4,719 | 17.7 | 0.4% |
| COMEX Gold - Dec 09 | 1199.1 | 18 | 1.5% |
| COMEX Silver - Sep 09 | 19.11 | 0.615 | 3.3% |
| COMEX Copper - Sep 09 | 320 | 5.15 | 1.6% |
| WTI Spot | 78.37 | 1.09 | 1.4% |
| AUD-USD | 0.9245 | 0.0089 | 1.0% |
| Aluminium | 2007 | 50 | 2.6% |
| Copper | 6814.5 | 59.5 | 0.9% |
| Lead | 2290 | 1 | 0.0% |
| Nickel | 16030 | -95 | -0.6% |
| Tin | 14800 | -25 | -0.2% |
| Zinc | 2226.5 | 28.5 | 1.3% |
An ease of concern about the Dubai World debt crisis had Caterpillar and other global firms lifting the Dow Jones Industrial Average to a new closing high for the year. There was some evidence that the holiday shopping season might surpass expectations as the Dow Jones Industrials closed up 126.74 points, or 1.23%, at 10471.58.
On the local front the XJO to is set for a nice move to the upside with the SPI futures suggesting an open around the 4778 level. Look for a solid lead from both BHP and RIO followed closely by the gold and oil stocks.
It will be interesting to see whether the XJO has the strength to break through the 4800 level and have another run at the highs towards 4900. With market sentiment getting a boost overnight out of the U.S and the China manufacturing numbers for November, efforts to revive world growth is spurred on.
If you are waiting for consolidation it may be a while, contact your broker today to discuss buy/write options for December or January.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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