Monthly Archives: February 2011
US market takes it lead from Asian strength
US markets followed on from strength in the Asian region on Friday night, as Oil reversed heavily from its highs late in the week, we saw the Dow closing higher by some 62 points or 0.5%, the broader S&P 500 up 14 points or 1.06%, while the Tech heavy NASDAQ was the stand out performer in a clear sign that risk came back on, closing higher by 43 points or 1.58% for the session. Read more…
Dow snaps back after early losses
US stocks extended their losses for a third straight day as worries persisted over turmoil in Lybia and how the resulting spike in oil prices might affect the US economic recovery. The Dow was off another 37 points to close at 12,068, briefly breaking the 12,000 level but recovering later in the session. Read more…
Middle east turmoil continues to weigh on markets
The Dow closed down 107 points overnight, for the second straight down session on further concern that Libya’s turmoil will slow economic growth. However, a positive sign is that US January existing home sales rose 2.7% compared to an expected 0.8% fall. Read more…
Market set to open lower as Wall St plummets
The U.S. stock market plummeted Tuesday in its biggest drop of the year as escalating tensions in the Middle East and North Africa reversed oil prices strongly from its lows. Read more…
BHP buys shale gas project
The Aussie market is expected to open weaker this morning following bearish offshore leads as European Markets reacted negatively to a surge in oil prices on the back of the political instability in Libya. Read more…
Middle East unrest likely to weigh on local market
US stock markets continued to push higher throughout Friday nights session, as portfolio positioning ahead of the three day weekend drove markets higher despite ongoing concerns over tensions in the middle east, at the bell the Dow was higher by 75 points or 0.59%, the broader S&P 500 up by some 2.58 points or 0.19%, and the Tech heavy NASDAQ managed gains of some 2.37 points of 0.08%. The rally will likely be negated this morning by escalating tensions in the Middle East over the weekend, largely in Libya where it is being reported some 200 protesters have been killed. Read more…
All eyes on gold
Overnight the DOW closed up almost 30 points to finish at 12,318, the tech heavy NASDAQ closed up only 6 points while gold was the clear winner up USD$10 edging toward the $1,400 mark at USD$1,385 an ounce. Crude is marginally higher at USD$86.36 per barrel. Global markets in general ended in positive territory.
Dow continues push higher after temporary pause
The US market made a new high overnight closing up 61 points on the back of the expectation of increased merger and acquisition activity and positive company earnings. The Fed reserve has a positive economic outlook from seeing better than expected performance of the major US companies as earnings continue to grow. Interesting to see that company earnings are back at levels at the peak of the bull market in 2007 but the Dow and S&P are still far from their highs. Read more…
Correction overnight signals market pause
On the local front today it will be interesting to see where the market will go, the bearish lead from the U.S over night suggests that the XJO will open down 6 points. BHP has reported this morning and it was pretty much in line with analyst expectations which could see the major miner and the whole market potentially sell off further as investors have factored in an outperform which has seen the stock push up to current levels. BHP may be more of a buy the rumour sell the fact today.
Political protests push crude prices higher
Wall Street finished the session mixed overnight after a quiet day on the market saw the Dow fall slightly down 5 points to 12268.19 points. Energy stocks strengthened overnight as Brent crude oil futures hit a 2 year high amid concern whether political turmoil could spread from Egypt to other Middle Eastern nations, following protests taking place in Yemen, Algeria and Iran. Read more…