US Stocks Fall, Dow Down 49.05pts
December 16th, 2009 by Lawrence Grasso
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10452 | -49.05 | -0.5% |
| NASDAQ | 2201.05 | -11.05 | -0.5% |
| S P 500 | 1107.93 | -6.18 | -0.6% |
| FTSE 100 | 5285.77 | -29.57 | -0.6% |
| Nikkei 225 | 10083.48 | -22.2 | -0.2% |
| ASX 200 | 4,673 | 19.5 | 0.4% |
| COMEX Gold - Dec 09 | 1123 | -0.8 | -0.1% |
| COMEX Silver - Sep 09 | 17.455 | 0.115 | 0.7% |
| COMEX Copper - Sep 09 | 314.15 | -1.05 | -0.3% |
| WTI Spot | 70.69 | 1.18 | 1.7% |
| AUD-USD | 0.906 | -0.0108 | -1.2% |
| Aluminium | 2265.5 | 55.5 | 2.5% |
| Copper | 6920 | 49 | 0.7% |
| Lead | 2291 | 1 | 0.0% |
| Nickel | 16690 | 165 | 1.0% |
| Tin | 15155 | -45 | -0.3% |
| Zinc | 2281.5 | -5.5 | -0.2% |
U.S. stocks fell Tuesday with Dow Jones Industrial Average down 49.05 points, or 0.47%, at 10452. The pull back was led by financial and consumer companies, as investors moved away from riskier areas of the market ahead of Wednesday's Federal Reserve interest rate statement.Weighing on financials, the latest numbers from credit-card issuers including Capital One Financial, J.P. Morgan and Bank of America indicated that consumers remain stressed by high rates of joblessness. Delinquency rates, a key gauge of future losses, continued to rise for most card issuers, and losses stemming from souring credit-card loans remain elevated.
Today, in Australia, the first of the major banks has its Annual General Meeting. Outlook commentary will be very important especially their view of bad and doubtful debts. If these comments are positive expect a little rally into Christmas for the Financials.
On the local front today the XJO should open fairly flat with a slight sell off from BHP and RIO as the commodities were mixed over night. The attention will be on the oilers today as crude found it’s legs and bounced off its low to finish the session up 1.7%.
As you may all know tomorrow (17th) is option expiry as December is a short expiry due to Christmas. Please review your positions and contact your adviser to discuss. Because December is a short month, it is important to reinvest any exercised positions and to write new positions for January as soon as possible. This means you will be receiving better time premium as January exercise is late in the month.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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