US Stocks Higher
July 14th, 2010 by Lawrence Grasso
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10,363.02 | 146.75 | 1.4% |
| NASDAQ | 2,242.03 | 43.67 | 2.0% |
| S P 500 | 1,095.34 | 16.59 | 1.5% |
| FTSE 100 | 5,271.02 | 104 | 2.0% |
| Nikkei 225 | 9,537.23 | -10.88 | -0.1% |
| ASX 200 | 4,380.30 | -29.6 | -0.7% |
| COMEX Gold - Dec 09 | 1,213.50 | 14.8 | 1.2% |
| COMEX Silver - Sep 09 | 18.257 | 0.34 | 1.9% |
| COMEX Copper - Sep 09 | 301.75 | 0.85 | 0.3% |
| WTI Spot | 77 | 2.05 | 2.7% |
| AUD-USD | 0.8836 | 0.0077 | 0.9% |
| Aluminium | 1,967.00 | -3.5 | -0.2% |
| Copper | 6,630.50 | -50 | -0.7% |
| Lead | 1,807.00 | -1 | -0.1% |
| Nickel | 19,210.00 | 80 | 0.4% |
| Tin | 17,740.00 | 40 | 0.2% |
| Zinc | 1,828.50 | -11.5 | -0.6% |
U.S. stocks shot higher Tuesday, extending the recent winning streak to six sessions as better-than-expected earnings from Alcoa and CSX boosted expectations for upcoming reports from bellwethers like Caterpillar.
The Dow Jones Industrial Average climbed 146.75 points, or 1.44%, to 10363.02
Intel closed up 44 cents, or 2.1%, to 21.01, ahead of its second-quarter report. The chip giant then posted earnings well above analysts' estimates, and raised its outlook for 2010 gross margin to 66% from 64%. The stock rose 8% in after-hours trading.
Though hundreds of other large-caps are on tap to post results in the coming weeks, those companies that reported on Tuesday gave people a little bit of confidence that the economy's not falling off a cliff.
On the local front the SFE 200 Futures suggest the Market will open up 69 points to around 4428. The base metals overnight have shown some strengthen so look for a bounce back in the resource sector. Oil found its feet and had a strong night with a bounce of $2.05 or 2.74% to $77 a barrel. Gold seems to have held on to the crucial $1200 an ounce overnight and closed stronger in the last hour up $14.8 or 1.23% to $1213.5 an ounce.
With corporate earnings in the U.S beating expectations so far, the XJO may have the strengthen in the coming week to move back to around the 4500 level. For those clients that have been waiting to sell premium as July is an extended month, be sure to lock in premiums this week as time value is starting to erode premiums.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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