Wall Street climbs to new high
November 24th, 2009 by Bryden Elssmann
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10450.95 | 132.79 | 1.3% |
| NASDAQ | 2176.01 | 29.97 | 1.4% |
| S P 500 | 1106.24 | 14.86 | 1.4% |
| FTSE 100 | 5355.5 | 104.09 | 2.0% |
| Nikkei 225 | 9497.68 | -51.79 | -0.5% |
| ASX 200 | 4,717 | 31.3 | 0.7% |
| COMEX Gold - Dec 09 | 1164.7 | 17.9 | 1.6% |
| COMEX Silver - Sep 09 | 18.61 | 0.17 | 0.9% |
| COMEX Copper - Sep 09 | 313.55 | 2.75 | 0.9% |
| WTI Spot | 78.2 | 1.48 | 1.9% |
| AUD-USD | 0.924 | 0.0092 | 1.0% |
| Aluminium | 2022 | 44 | 2.2% |
| Copper | 6945.5 | 214.5 | 3.2% |
| Lead | 2375.5 | 66.5 | 2.9% |
| Nickel | 16855 | 195 | 1.2% |
| Tin | 15075 | 75 | 0.5% |
| Zinc | 2258.5 | 62 | 2.8% |
The Dow closed at a new 2009 high as energy companies Chevron and Exxon Mobil and the Verizon Communications and AT&T led a broad rally.
The Dow closed up 132.79 points, or 1.29% to 10450.95, reaching its highest close since October 2008. The rise came as investors’ confidence in stocks was renewed by better-than-expected existing home sales data.
The Australian share market is likely to open stronger this morning following the rally on Wall St on a better than expected housing report which fuelled optimism for the economic recovery. A rise in commodities is likely to boost resource stocks today and help to support the market.
Gold advanced $18 to US$1,164.80 an ounce for the December contract on Comex, gold touched a record high of US$1,174 an ounce at one point as the US dollar weakened boosting bullions appeal. Silver added 15 cents to US$18.59 for the March contract, copper is up 3 cents at US$3.16.
WTI spot oil is up $US1.48 or 2% to $US78.2 a barrel. This should translate into a strong day for producers with Woodside likely to open higher this morning.
WPL - Pluto Project
The company says the project is 82% complete and remains on schedule to deliver first gas from the Pluto field at the end of 2010 and first liquefied natural gas in early 2011.Woodside says the final cost of the project is expected to be 6% to 10% over the $11.2 billion approved by Woodside at the time of the final investment decision in July 2007.The company says the expected increase in cost is due to lower than budgeted productivity in both onshore and offshore construction. The Pluto LNG Project, located west of Karratha in Western Australia, is underpinned by 15 year sales agreements with Kansai Electric and Tokyo Gas. Woodside Petroleum posted a profit of $1.8 billion in 2008, its best in five years.
The SPI is currently up 37 to 4766 points.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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