US Stocks Rally
January 5th, 2010 by Bryden Elssmann
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10,583.96 | 155.91 | 1.5% |
| NASDAQ | 2,308.42 | 39.27 | 1.7% |
| S P 500 | 1,132.99 | 17.89 | 1.6% |
| FTSE 100 | 5,500.34 | 87.46 | 1.6% |
| Nikkei 225 | 10,654.79 | 108.35 | 1.0% |
| ASX 200 | 4,876.30 | 25.1 | 0.5% |
| COMEX Gold - Dec 09 | 1,119.50 | 23.3 | 2.1% |
| COMEX Silver - Sep 09 | 17.445 | 0.6 | 3.6% |
| COMEX Copper - Sep 09 | 340.3 | 5.65 | 1.7% |
| WTI Spot | 81.52 | 2.16 | 2.7% |
| AUD-USD | 0.9127 | 0.0142 | 1.6% |
| Aluminium | 2,225.50 | 17.5 | 0.8% |
| Copper | 7,464.00 | 118 | 1.6% |
| Lead | 2,451.50 | 56.5 | 2.4% |
| Nickel | 18,855.00 | 375 | 2.0% |
| Tin | 17,450.00 | 725 | 4.3% |
| Zinc | 2,575.00 | 5 | 0.2% |
Investors on Wall Street began 2010 on a buying spree pushing stocks and other risky assets sharply higher amid strong manufacturing data and comments from the US Federal Reserve. Bank of America, Boeing, United Technologies were among the gainers pushing the Dow up 155.91 points, or 1.5% to close at 10583.96. Most market commentators believe it will take a few more days for Wall Street’s trading desks to return to full strength as traders and money managers gradually return from the holidays.
US stocks rallied along with the price of oil, signalling equities investors are not yet alarmed that higher energy costs are hurting consumers and businesses. Oil futures surged above $US81 a barrel as positive economic data from China and increased tensions from the Middle East pushed prices higher. Gold futures also rose to a two week high up $US23.3 an ounce to $US1119.5 while the Aussie dollar rose sharply to US91.23 cents against a weaker US currency.
The Australian market is set to open higher this morning after optimism over an economic recovery boosted Wall Street, with resources firms likely to rise after expectations of strong demand lifted gold, metals and oil prices. Look for a positive start to the session from BHP & RIO.
The SPI is currently up 55 points to 4932.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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