Positive End To The Week
July 10th, 2009 by Lawrence Grasso
Closing Data
| Current | +/- | % | |
|---|---|---|---|
| Dow Jones | 8183.17 | 4.76 | 0.1% |
| NASDAQ | 1752.55 | 5.38 | 0.3% |
| S P 500 | 882.68 | 3.12 | 0.4% |
| FTSE 100 | 4158.66 | 18.43 | 0.4% |
| Nikkei 225 | 9291.06 | -129.69 | -1.4% |
| US Bond 10 Yr | 3.4078 | 0.0968 | 2.9% |
| US Bond 30 Yr | 4.3006 | 0.108 | 2.6% |
| COMEX Gold - Aug 09 | 916.2 | 6.9 | 0.8% |
| COMEX Silver - Jul 09 | 12.935 | 0.083 | 0.6% |
| COMEX Copper - Jul 09 | 223.75 | 7.85 | 3.6% |
| WTI Spot | 60.36 | 0.21 | 0.3% |
| Aluminium | 1540 | -21.5 | -1.4% |
| Copper | 4821 | -29 | -0.6% |
| Lead | 1594.5 | -30.5 | -1.9% |
| Nickel | 14975 | -475 | -3.1% |
| Tin | 13350 | -755 | -5.4% |
| Zinc | 1485.5 | -32 | -2.1% |
A tug of war between rallying bank stocks, including Goldman Sachs, and a Merck-led slide for healthcare companies resulted in stock indicies closing slightly higher on Wall Street. Overall, the Dow Jones Industrial Average closed up 4.76 points, or 0.06%, at 8183.17.
Crude oil closed higher for the first session in seven, as bargain hunters jumped in to
capitalise on the steep decline.
The Australian Market today should bounce slightly after a quite night on Wall Street. The XJO should hit 3800 leaving the market up around 30-40 pts for the day.
OIL
Look for oilers to bounce back today as oil prices steady for a move higher in the next couple of trading sessions. Target on spot oil is back at around $65. Keep an eye on your oil plays like OSH, WPL and STO as they are all showing signs that they are ready for a pop to the upside.
GOLD
Gold found support yesterday at $905 an ounce and now looks like its on a rebound back to around $930 an announce. This should see the gold plays have a nice move back over the next couple of trading sessions. In particular NCM (Newcrest Mining ) had a great reversal off the lows yesterday and this upward moment should carry on today.
Special Note
Neil Gynther, the Head of Broking is on Leave for three weeks as of Monday 13th of July. If any of Neil’s client would like to place a trade or have any questions answered, myself and Cale McCulloch will be able to help.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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