Rebound on Wall Street
October 20th, 2009 by Bryden Elssmann
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10092.19 | 96.28 | 1.0% |
| NASDAQ | 2176.32 | 19.52 | 0.9% |
| S P 500 | 1097.91 | 10.23 | 0.9% |
| FTSE 100 | 5281.54 | 91.3 | 1.8% |
| Nikkei 225 | 10236.51 | -21.05 | -0.2% |
| ASX 200 | 4,793 | -43.7 | -0.9% |
| COMEX Gold - Dec 09 | 1058.1 | 6.6 | 0.6% |
| COMEX Silver - Sep 09 | 17.625 | 0.205 | 1.2% |
| COMEX Copper - Sep 09 | 296.65 | 12.1 | 4.3% |
| WTI Spot | 78.45 | -0.14 | -0.2% |
| AUD-USD | 0.9291 | 0.0147 | 1.6% |
| Aluminium | 1870.5 | 5.5 | 0.3% |
| Copper | 6260 | 99.5 | 1.6% |
| Lead | 2191 | 11 | 0.5% |
| Nickel | 18830 | 185 | 1.0% |
| Tin | 14760 | -165 | -1.1% |
| Zinc | 2034.5 | 25.5 | 1.3% |
As earnings expectations have skyrocketed in the past week, so has the market. The rebound on Wall Street overnight occurred as weakness in the US dollar flowed into stocks. The Dow closed up 96.28 points, or 0.96%, to 10092.19, marking its highest close since Oct. 3, 2008. The S&P 500 increased 10.23, or 0.94%, to 1097.91, also marking its highest close since Oct. 3, 2008.
Wall Street was driven higher by strong first quarter results. Apple Inc sales and profit beat analysts’ estimates on back-to-school demand for iPhones, iPods and Macintosh computers, sending the stock in after-market trading to its highest price in history.
Australian market
The Australian share market is likely to follow Wall St’s rally and open higher this morning with higher base and precious metals prices and a rise in the price of oil likely to boost resource stocks today.
Oil approached $US80 a barrel for the first time in a year today as growing optimism about the economy boosted oil and equities.
The Aussie Dollar has rallied above the US92 cent mark to open at its highest point in more than a year after comments from the RBA that fuelled the possibility for a further rate hike next month. The Aussie dollar is currently buying 92.91 US cents, 84.21 Yen, 62.11 Euro cents and 56.61Pence Sterling.
The SPI is up 43 points this morning.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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