Options Expiry
June 25th, 2009 by Cale McCulloch
Closing Data
| Current | +/- | % | |
|---|---|---|---|
| Dow Jones | 8299.86 | -23.05 | -0.3% |
| NASDAQ | 1792.34 | 27.42 | 1.6% |
| S P 500 | 900.94 | 5.84 | 0.7% |
| FTSE 100 | 4279.98 | 49.96 | 1.2% |
| Nikkei 225 | 9590.32 | 40.71 | 0.4% |
| 0.0% | |||
| US Bond 10 Yr | 3.6881 | 0.0663 | 1.8% |
| US Bond 30 Yr | 4.4265 | 0.0696 | 1.6% |
| 0.0% | |||
| COMEX Gold - Aug 09 | 934.4 | 10.1 | 1.1% |
| COMEX Silver - Jul 09 | 13.91 | 0.065 | 0.5% |
| COMEX Copper - Jul 09 | 226.75 | 6.9 | 3.1% |
| WTI Spot | 68.14 | -0.67 | -1.0% |
US markets gave back early gains overnight, following a statement from the Fed saying that while they are seeing some stabilisation in the economy, they intend to keep rates low for some time. They also played down the risk of deflation. The Dow closed 23 points lower at 8299, the first close below 8300 in roughly 1 month. While the NASDAQ managed to put on 1.5% as investors looked for safety in the tech sector, giving Oracle a rise of some 7%.
Positive expectations for global growth led the Base metals higher, despite the strength in the US dollar with Nickel, Zinc, Lead and Copper all managing to gain more that 5% for the session. Gold futures nudged up 1% to close at USD 934 an ounce, while Oil gave back some of the previous session’s gains, slipping 1% to close slightly above USD 78 per barrel.
Australian iron ore producers came under pressure yesterday following a release out of China regarding an iron Ore discovery near Angang in Liaoning. Deposit was said to have a 3 billion tonnes of reserves. But look for strength in the sector today following the sharp climb in base metals overnight. Add to this the fact that the reserve announced in China yesterday is only likely to provide a couple of percent of China’s annual needs as the ore is of very low quality.
The Australian dollar managed to strengthen slightly on the back of strong leads from commodities, despite the strength in the US dollar.
SPI futures have us opening some 22 points this morning.
OPTIONS EXPIRY TODAY
With the market likely rising in Resources and flat in Financials you need to review your expiring positions and contact your adviser as early as possible today.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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