Stocks climbed Wednesday in a thinly-traded session ahead of Thanksgiving, as investors welcomed a bigger-than-expected drop in weekly jobless claims.
All financial markets are closed Thursday for the holiday, while Friday brings an abbreviated session for stocks. Some market pros will make a five-day weekend of the period.
The Dow Jones industrial average (INDU) rose 31 points, or 0.3% according to early tallies, ending at a fresh 13-month high. The S&P 500 (SPX) rose 5 points, or 0.5%, and also finished at a fresh 13-month high.
Most economists believe the recession is over. Yet rampant joblessness, lower household income and personal wealth, and a still-tight lending environment should temper the benefit of retailers' discounts.
Oil prices rose as a government report showed a less-than-expected build in crude inventories.
New York's main contract, light sweet crude for January delivery, closed up $US1.94 to $US77.96 a barrel.
The Australian share market has received positive leads into Thursday trading, as Wall Street posted gains on positive jobs and home sales data.
At 0700 AEDT on the Sydney Futures Exchange, the December share price index contract was 13 points higher at 4,748.
In economic news on Thursday, the Australian Bureau of Statistics (ABS) releases private new capital expenditure and expected expenditure for the September quarter. The ABS also releases managed funds data for the September quarter.
GOLD up 21.20c to US$1187.00 an ounce SILVER up 31.3c to US$18.768 an ounce COPPER up 5.15c at US$3.165 a pound
Today's Financial Calendar Scheduled Events For 26 November, 2009:
US Thanksgiving (markets closed) NZ business confidence, Nov Australia private capital expenditure and expenditure expectations, Q3 Japan minutes of BoJ meeting (ADD) - AGM (AEM) - AGM (AEX) - AGM (AND) - AGM (APB) - AGM (APN) - Analyst briefing (BHP) - Annual General Meeting (BUY) - AGM (CAP) - AGM (CLS) - AGM (EAR) - AGM (EGL) - AGM (EQL) - AGM (ESN) - AGM (FMG) - Analyst site tour - day two (final) (FML) - AGM (FTE) - AGM (GCS) - AGM (GDW) - AGM (GIP) - AGM (GPB) - AGM (GWR) - AGM (GYN) - AGM (GZL) - AGM (HDN) - AGM (HTX) - Annual General Meeting (IAW) - AGM (IBG) - AGM (ICP) - AGM (ICS) - AGM (IPX) - AGM (KAT) - AGM (KRL) - AGM (LNG) - Annual General Meeting (MDA) - Annual General Meeting (MDV) - Annual General Meeting (NGM) - AGM (OEX) - AGM (OIP) - AGM (ONT) - AGM (PHG) - AGM (PMH) - AGM (PMX) - AGM (PPN) - AGM (PTO) - AGM (PTS) - AGM (RFL) - AGM (RML) - AGM (SDI) - AGM (SOM) - AGM (STP) - AGM (TAL) - FY09 profit result (TFC) - Ex div. 3.0c (UTO) - AGM (WCU) - AGM (WGR) - AGM (WLF) - AGM (XTE) - AGM (BYR) - Annual General Meeting (02:00 AM) (CAV) - Annual General Meeting (02:00 AM) (LEF) - Annual General Meeting (08:30 AM) (BPT) - Annual General Meeting (09:00 AM) (CCI) - Annual General Meeting (09:00 AM) (CEG) - Annual General Meeting (09:00 AM) (EMR) - Annual General Meeting (09:00 AM) (FSE) - Annual General Meeting (09:00 AM) (SVM) - Annual General Meeting (09:00 AM) (VRL) - Annual General Meeting (09:00 AM) (AYR) - Annual General Meeting (10:00 AM) (BDL) - Annual General Meeting (10:00 AM) (BKY) - Annual General Meeting (10:00 AM) (CHF) - Annual General Meeting (10:00 AM) (COF) - Annual General Meeting (10:00 AM) (CQT) - Annual General Meeting (10:00 AM) (DLE) - Annual General Meeting (10:00 AM) (ECQ) - Annual General Meeting (10:00 AM) (ESM) - Annual General Meeting (10:00 AM) (FRM) - Annual General Meeting (10:00 AM) (GME) - Annual General Meeting (10:00 AM) (GNV) - Annual General Meeting (10:00 AM) (GUN) - Annual General Meeting (10:00 AM) (KIK) - Annual General Meeting (10:00 AM) (LYC) - Annual General Meeting (10:00 AM) (PCL) - Annual General Meeting (10:00 AM) (PHK) - Annual General Meeting (10:00 AM) (RER) - Annual General Meeting (10:00 AM) (RVE) - Annual General Meeting (10:00 AM) (SLM) - Annual General Meeting (10:00 AM) (TCO) - Annual General Meeting (10:00 AM) (KRM) - Annual General Meeting (10:30 AM) (MRM) - Annual General Meeting (10:30 AM) (SRZ) - Annual General Meeting (10:30 AM) (AVA) - Annual General Meeting (11:00 AM) (CZP) - Annual General Meeting (11:00 AM) (EQX) - Annual General Meeting (11:00 AM) (GLF) - Annual General Meeting (11:00 AM) (HOM) - Annual General Meeting (11:00 AM) (MEL) - Annual General Meeting (11:00 AM) (OUM) - Annual General Meeting (11:00 AM) (SCD) - Annual General Meeting (11:00 AM) (TDO) - Annual General Meeting (11:00 AM) (TSV) - Annual General Meeting (11:00 AM) (VBA) - Annual General Meeting (11:00 AM) (WOW) - Annual General Meeting (11:00 AM) (ZGM) - Annual General Meeting (11:00 AM) (AGV) - Annual General Meeting (11:30 AM) (NCO) - Annual General Meeting (11:30 AM) (SBL) - Annual General Meeting (11:30 AM) (ATR) - Annual General Meeting (12:00 PM) (HLG) - Annual General Meeting (12:00 PM) (JVG) - Annual General Meeting (12:00 PM) (NHC) - Annual General Meeting (12:00 PM) (WGO) - Annual General Meeting (12:00 PM) (DGX) - Annual General Meeting (12:30 PM) (CAJ) - Annual General Meeting (01:00 PM) (FSA) - Annual General Meeting (01:00 PM) (MVU) - Annual General Meeting (01:00 PM) (EZL) - Annual General Meeting (01:30 PM) (BGL) - Annual General Meeting (02:00 PM) (BUR) - Annual General Meeting (02:00 PM) (ELX) - Annual General Meeting (02:00 PM) (FAS) - Annual General Meeting (02:00 PM) (MBT) - Annual General Meeting (02:00 PM) (ORN) - Annual General Meeting (02:00 PM) (PTR) - Annual General Meeting (02:00 PM) (MBD) - Annual General Meeting (02:30 PM) (MSC) - Annual General Meeting (02:30 PM) (RUB) - Annual General Meeting (02:30 PM) (VIE) - Annual General Meeting (02:30 PM) (ZNC) - Annual General Meeting (02:30 PM) (APG) - Annual General Meeting (03:00 PM) (APG) - Annual General Meeting (03:00 PM) (GIR) - Annual General Meeting (03:00 PM) (LNC) - Annual General Meeting (03:00 PM) (RDR) - Annual General Meeting (03:00 PM) (SWN) - Annual General Meeting (03:00 PM) (FXL) - Annual General Meeting (04:00 PM) (NLB) - Annual General Meeting (04:00 PM) (UXC) - Annual General Meeting (04:00 PM) (CLX) - Annual General Meeting (05:00 PM) (ERN) - Annual General Meeting (07:30 PM) (WHS) - Annual General Meeting (10:00 PM)
You should be asking before entering any position.
What is the overall direction of the market? What is the overall direction of the market sector your stock resides in? Do the weekly and monthly charts support your view?
