US Markets Close Weaker
October 19th, 2009 by Cale McCulloch
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 9995.91 | -67.03 | -0.7% |
| NASDAQ | 2156.8 | -16.49 | -0.8% |
| S P 500 | 1087.68 | -8.88 | -0.8% |
| FTSE 100 | 5190.24 | -32.71 | -0.6% |
| Nikkei 225 | 10257.56 | 18.91 | 0.2% |
| ASX 200 | 4,836 | -23.4 | -0.5% |
| COMEX Gold - Dec 09 | 1051.5 | 0.9 | 0.1% |
| COMEX Silver - Sep 09 | 17.42 | 0.005 | 0.0% |
| COMEX Copper - Sep 09 | 284.55 | -1.35 | -0.5% |
| WTI Spot | 78.59 | 1.01 | 1.3% |
| AUD-USD | 0.917 | -0.0036 | -0.4% |
| Aluminium | 1865 | 29 | 1.6% |
| Copper | 6160.5 | 83.5 | 1.4% |
| Lead | 2180 | 40 | 1.9% |
| Nickel | 18645 | 470 | 2.6% |
| Tin | 14925 | 325 | 2.2% |
| Zinc | 2009 | 44 | 2.2% |
US markets closed off the week on a weaker note. Led lower by some worse than expected results from General Electric ,which was a result of an underperforming capital division, the market was off .6%. However, we have now seen some 12% of companies in the S&P 500 report results, with over 60% beating the street on Earnings, and even more beating the street on Profit figures. Comments from both GE and Bank of America that the consumer credit divisions were lagging sent a shiver through the market. At the close the Dow was off by 67 points, the S&P 500 lower by just under 9 points, and the tech heavy NASDAQ down by 16.49 points.
Not a lot on the economic calendar domestically this week. All eyes will be on the US reporting season, as well as some Chinese economic data due out on Wednesday, the Beige book in the US later in the week, and a number of 3rd quarter reports including one by BHP late in the week. Keep an eye on the Indian market today – you may see some positive sentiment on the back of the beginning of the Hindu new year over the weekend.
Base metals were mixed, with Zinc and Tin the only metals to manage modest gains of 0.9% and 0.69% respectively. While Copper, Lead, Aluminium and Nickel all closed lower by between 0.2 and 0.95%.
Oil continued to break out, putting on an additional USD 1.01 to close at 78.59 per barrel, the highest close in 12 months. While we also saw the Gold trade revert to a risk trade late last week, holding ground at USD 1050 a troy ounce.
The SPI has us opening lower by 14 points this morning.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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