Morning all
Thanks AMers
SPI: -13 @ 5352
XJO Yesterday: -38 @ 5385
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Above All Ordinaries
Locally we are set to lose more steam from weaker leads from the US.
Earlier European stocks closed lower on Thursday after the kept interest rates on hold and did not extend its asset purchase program.
The ECB
kept its benchmark refinancing rate at 0 percent and also did not change its trillion-euro bond-buying plan, saying the program will run until the end of March 2017 or beyond if necessary.
Investors had expected the central bank to extend
quantitative easing.
US markets couldn't rally despite a surge in oil prices.
The Dow Jones industrial average closed about 50 points lower, with
Apple contributing the most losses.
"Markets are concerned that central banks have little left to spur up demand," said Quincy Krosby, market strategist at Prudential Financial. "The market is treading water, waiting for more data."
The S&P 500 fell approximately 0.2 percent, with information technology lagging.
The Nasdaq composite underperformed and snapped a four-day winning streak, falling about 0.5 percent as Apple slid 2.6 percent. Apple's stock fell a day after unveiling its latest iPhone model. 1
Oil prices surged over 4 percent on Thursday, with Brent briefly touching $50 a barrel for the first time in two weeks, after a surprisingly huge drawdown in U.S. crude stocks as Gulf Coast imports slumped to a record low.
Brent rose $2.01, or 4.2 percent, to settle at $49.99 a barrel, its highest close in almost three weeks.
U.S. crude ended at $47.62 per barrel, up $2.12, or 4.7 percent, the biggest daily percentage gain for U.S. futures since April. 2
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1 Year Oil
Copper: + .3%
Nickel: + 1.25%
Zinc: - .5%
Aluminium: - .25%
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Gold and silver prices ended the U.S. day session lower Thursday, on more profit taking from recent gains that pushed both metals to a three-week high Wednesday. The bulls in both metals still possess a comfortable near-term technical advantage. 3
Gold: $1338 -.5%
HUI: - 2.4%
AUD Gold: $1752
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AUD: .7643
On Today:
US unemployment
Have a good day
Sources:
1 CNBC
2 Reuters
3 *****
