US Market Closes Higher
December 14th, 2009 by Cale McCulloch
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10471.5 | 65.67 | 0.6% |
| NASDAQ | 2190.31 | -0.55 | -0.0% |
| S P 500 | 1106.41 | 4.06 | 0.4% |
| FTSE 100 | 5261.57 | 17.2 | 0.3% |
| Nikkei 225 | 10107.87 | 245.05 | 2.5% |
| ASX 200 | 4,635 | 28.6 | 0.6% |
| COMEX Gold - Dec 09 | 1119.9 | -6.3 | -0.6% |
| COMEX Silver - Sep 09 | 17.09 | -0.098 | -0.6% |
| COMEX Copper - Sep 09 | 313.3 | 3 | 1.0% |
| WTI Spot | 69.87 | -0.67 | -0.9% |
| AUD-USD | 0.9126 | -0.0043 | -0.5% |
| Aluminium | 2210 | 46.5 | 2.1% |
| Copper | 6871 | 61 | 0.9% |
| Lead | 2290 | 30 | 1.3% |
| Nickel | 16525 | 55 | 0.3% |
| Tin | 15200 | 0 | 0.0% |
| Zinc | 2287 | 22 | 1.0% |
The US market closed higher Friday night on the back of stronger than expected retail sales, which came in at almost double what the market was expecting. Add to this some strong consumer sentiment data and the scene was set for modest gains to the tune of 65 points on the Dow, 4 points for the S&P 500 while the tech heavy NASDAQ bucked the trend to shed 0.5 points for the session.
Strength in Base metal prices should support the local market, with all closing in the green besides Tin which shed 0.65%. Weighing on the market will be the Gold miners, as Spot Gold continued its downward trend by closing some USD 16 per Troy Ounce at $1114. Weakness in the energy sector will also weigh, with oil giving back a further 1% to close back below USD 70 per barrel.
Volumes will be low ahead of the GDP numbers due out on Wednesday, while we do have some lending finance numbers due out today. The market is looking for the GDP numbers to come through with a gain of 0.4%, weighed down by a fall in exports on the back of the strength in the Australian Dollar.
The Main company to keep an eye on this week will be Woodside Petroleum (WPL), which has this morning announced a $2.5 Billion Equity raising to help fund the LNG projects after a cost blow out. The Entitlement offer has been priced at $42.10 a share, representing a 10% discount from the last traded price.
The SPI has us opening down 3 points this morning, with trading to be guided by Asian markets throughout the session.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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