Time for review
December 29th, 2008 by Antony Ganzitti
Closing Data
| current | change | % | |
|---|---|---|---|
| Dow Jones | 8515.55 | 47.07 | 0.6% |
| NASDAQ | 1530.24 | 5.34 | 0.4% |
| S P 500 | 872.8 | 4.65 | 0.5% |
| FTSE 100 | 4216.59 | -39.39 | -0.9% |
| Nikkei 225 | 8739.52 | 140.02 | 1.6% |
| SPI Futures | 3587 | 0 | 0.0% |
| All Ords | 3,515.00 | 0 | 0.0% |
| Oil | 37.58 | 4.64 | 14.1% |
| Gold | 871.2 | 23.2 | 2.7% |
| Silver | 10.53 | 0.18 | 1.7% |
| Aluminium | 1495.5 | 0 | 0.0% |
| Copper | 2770 | 0 | 0.0% |
| Lead | 900 | 0 | 0.0% |
| Nickel | 9500 | 0 | 0.0% |
| Tin | 10000 | 0 | 0.0% |
| Zinc | 1100 | 0 | 0.0% |
US stocks finished higher Friday as a surge in oil prices helped lift energy stocks, while a Federal Reserve rescue plan for GMAC helped lift troubled car maker General Motors for at least one day. Returning from a one-day holiday, oil traders pushed crude up more than $2 a barrel Friday. Helping the gains, the United Arab Emirates said it will slash crude exports by up to 15% in February, marking the first reduction for that month by an OPEC member since the group pledged action last week to shore up a weakening oil market.
After one of the more dire and active years in equities history, several traders have closed their books on 2008 in recent sessions. While few are ready to tout 2009 as a possible cure, many are already keying into areas they expect will drive the gains at the start of the year. “People will be looking for companies with good balance sheets, coupled with ones that are down the most. And that’s across all sectors,” said Michael Blaustein, president and chief executive of financial services firm Matrix USA.
You should use the festive break to review your portfolio and have a discussion with your adviser.
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Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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