US Stocks Climb To 18 Month Highs, Dow Jones Up 102.94 pts
March 24th, 2010 by Lawrence Grasso
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10,888.83 | 102.94 | 1.0% |
| NASDAQ | 2,415.24 | 19.84 | 0.8% |
| S P 500 | 1,174.17 | 8.36 | 0.7% |
| FTSE 100 | 5,673.63 | 29.09 | 0.5% |
| Nikkei 225 | 10,774.15 | -50.57 | -0.5% |
| ASX 200 | 4,884.90 | 10.1 | 0.2% |
| COMEX Gold - Dec 09 | 1,105.80 | 6.3 | 0.6% |
| COMEX Silver - Sep 09 | 16.95 | 0.015 | 0.1% |
| COMEX Copper - Sep 09 | 340 | 1.95 | 0.6% |
| WTI Spot | 81.65 | 0.06 | 0.1% |
| AUD-USD | 0.9188 | 0.0007 | 0.1% |
| Aluminium | 2,192.50 | -40.5 | -1.8% |
| Copper | 7,300.50 | -160.5 | -2.2% |
| Lead | 2,140.00 | -70.5 | -3.2% |
| Nickel | 21,855.00 | -845 | -3.7% |
| Tin | 17,625.00 | -50 | -0.3% |
| Zinc | 2,217.50 | -70 | -3.1% |
U.S. stocks climbed to 18-month highs Tuesday as investors lifted growth-orientedstocks including Caterpillar, Deere and FedEx on hopes that industrials will continue to benefit from a snap-back in demand. Furthermore the commodities erased losses as improved earnings boosted confidence in the economy and European nations moved closer to an agreement for aid to Greece.
The Dow Jones Industrial Average jumped 102.94 points, or 0.95%, to 10888.83, marking its biggest one-day gain since March 5 and its highest close since Sept. 26, 2008. The measure has climbed 10 out of the past 11 sessions and is now up 5.46% for the month.
On the local front the Australian market will open the session stronger today as commodities pushed higher overnight. Gold futures increased to the highest level in three weeks on speculation that the US dollar will weaken (up $6.3 to $1105.8 an ounce). Oil closed $0.06 higher to 81.65.
The market seems to have found more direction over the last couple of trading sessions and may potentially make a move towards the 5000 level. Once at 5000 the market will find some resistance, which could see it play out a range from 4700 on the downside to 5000 on the upside over the coming months.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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