Well, What A Year it Was!
December 31st, 2009 by Neil Gynther
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10,548.51 | 3.1 | 0.0% |
| NASDAQ | 2,291.28 | 2.88 | 0.1% |
| S P 500 | 1,126.42 | 0.23 | 0.0% |
| FTSE 100 | 5,397.86 | -39.75 | -0.7% |
| Nikkei 225 | 10,546.44 | -91.62 | -0.9% |
| ASX 200 | 4,833.30 | -11.8 | -0.2% |
| COMEX Gold - Dec 09 | 1,092.00 | -6.1 | -0.6% |
| COMEX Silver - Sep 09 | 16.785 | -0.325 | -1.9% |
| COMEX Copper - Sep 09 | 334.6 | 3.25 | 1.0% |
| WTI Spot | 79.28 | 0.69 | 0.9% |
| AUD-USD | 0.8938 | -0.001 | -0.1% |
| Aluminium | 2,247.00 | 46 | 2.1% |
| Copper | 7,221.00 | 151 | 2.1% |
| Lead | 2,365.50 | 38.5 | 1.7% |
| Nickel | 18,975.00 | 335 | 1.8% |
| Tin | 16,575.00 | 430 | 2.7% |
| Zinc | 2,510.00 | 19.5 | 0.8% |
US Market
The US dollar traded at three- month highs against the yen, $US/YEN 0.9245 up 45, on speculation that the Federal Reserve is moving closer to withdrawing stimulus measures as the economy recovers, pushing bond yields higher. It also rose yesterday in comparison to the Euro , heading for its first monthly high since June, an indication that US business strength has increased to highest levels for almost four years.
Conversely, US Shares were flat as investors speculate whether or not the Federal Reserve will withdraw stimulus funding due to growing evidence that they economy is showing signs of improvement.
US Companies experienced their greatest expansion pace in almost four years, further signalling the potential for economic recovery heading into 2010.
The Dow Jones Industrial Average rose 3.1pts to 10,548.51.
The S&P 500 added less than 0.1% to 1,126.42. In 2009 the index is up 25%, which reflects the potential for its biggest annual return in six years, following a 38% plunge in 2008.
Australian Market
The $AU closed slightly firmer in comparison to the $US at 0.8938. It reached 0.8993 US during trading in the New York session, which is the highest level since December 17th when it reached 0.9008 US.
Local Economic Data is due out on Thursday, which will include credit data for the month of November released by the Reserve Bank of Australia.
Credit data released in October for the financial intermediaries was flat.
Commodities
Lead and copper prices have more than doubled in during 2009.
Wrap
Well, what a year it was!! From the low point in March to where we are now – what a ride!
We have gone from fearing the very worst because of the huge amount of “unknowns” to a world that is, in general, beginning to recover, albeit at different rates in different countries. The “Green Shoots” are getting greener. There will still be some extraordinary events appear that will attempt to shake our confidence. Remember the Dubai debt crisis and the downgrading of the Greek National debt? After what the world went through these events will continue to happen, perhaps for the next couple of years. (There is talk now of Japan Airlines going into bankruptcy.)
However the world is recovering, Australia is in a great place and 2010 will be a consolidating year for the Markets. An excellent market for our clients to continue to milk their returns each month on carefully selected stocks. We anticipate the next upturn in our Market will come with the reporting season commencing in February.
From all at Freeman Fox Broking and the whole Freeman Fox team we wish you a very safe and prosperous 2010 and may all your goals be realized.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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