Positive Day Ahead
July 14th, 2009 by Lawrence Grasso
Closing Data
| Current | +/- | % | |
|---|---|---|---|
| Dow Jones | 8331.68 | 185.16 | 2.3% |
| NASDAQ | 1793.21 | 37.18 | 2.1% |
| S P 500 | 901.05 | 21.92 | 2.5% |
| FTSE 100 | 4202.13 | 74.96 | 1.8% |
| Nikkei 225 | 9050.33 | -236.95 | -2.6% |
| US Bond 10 Yr | 3.3529 | 0.0578 | 1.8% |
| US Bond 30 Yr | 4.234 | 0.0405 | 1.0% |
| COMEX Gold - Aug 09 | 922.5 | 10 | 1.1% |
| COMEX Silver - Jul 09 | 12.785 | 0.14 | 1.1% |
| COMEX Copper - Jul 09 | 222.3 | 1.15 | 0.5% |
| WTI Spot | 59.69 | -0.24 | -0.4% |
| Aluminium | 1531.5 | -2.5 | -0.2% |
| Copper | 4883 | 43 | 0.9% |
| Lead | 1567 | -27 | -1.7% |
| Nickel | 14360 | -95 | -0.7% |
| Tin | 12650 | 200 | 1.6% |
| Zinc | 1461 | -12 | -0.8% |
The Dow Jones Industrial Average surged up 185.16 points or 2.27% to 8146.52 overnight, with Goldman Sachs joining a broad rally in the financial sector, General Electric rising ahead of earnings, and Kraft Foods climbing on an analyst upgrade. All 30 stocks in the Dow Jones Industrial Average finished higher.
Australian stocks are set to open higher on Tuesday, recovering from recent weakness, after U.S. stocks rallied more than 2 percent on optimism ahead of financial reports this week from some of the top banks. Look for the XJO to be up between 80 – 100 pts with strength from both the Financials and Resources.
Global miner BHP Billiton Ltd (BHP) looks like it will open up based on trade in its New York listing. Look for levels above $33 on the stock and for those clients who have not sold calls over their positions today will be a prime opportunity.
Oil struggling at the $60 mark and actually had a low of $58.37, however closed the session at $59.69 suggesting that it may have found support with buyers taking up the close.
AIO
Asciano Group (AIO) Chief Executive Mark Rowsthorn said Tuesday
that he plans to take up his full entitlement under the company's entitlement offer of around 76.2 million stapled securities. To fund the purchase, Rowsthorn says he has sold 40 million existing stapled securities at a price of A$1.25 and obtained a loan to pay for the remaining amount. This is a great sign for the company as Mark Rowthorn obliviously believes in the state of the company and its future existence.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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