Morning all
Thanks AMers
The local market finished higher yesterday for the fifth straight session, and Futures point to a cautiously firmer open again today.
SPI +8 @ 5357
U.S. stocks ticked up on Wednesday, allowing the S&P 500 and Dow industrials to set fresh record highs.
Focus has now turned to Thursday's meeting at the Bank of England, expected to turn to quantitative easing as it tries to shield the economy from the fallout of Britain's vote last month to leave the European Union.
Continued support from monetary policies across the developed world and strong economic data in the United States have given investors a reason to bid growth-sensitive sectors of the stock market. This turn to cyclical stocks could help take the rally beyond the current record highs.
While second-quarter earnings of S&P 500 companies are currently expected to fall 5 percent, they may indicate that the first quarter marked a bottom for the earnings contraction. Most on Wall Street expect growth to resume in the second half of the year.
The Dow Jones industrial average rose 24.45 points, or 0.13 percent, to 18,372.12; the S&P 500 ticked up 0.29 points, or 0.01 percent, to 2,152.43 and the Nasdaq Composite fell 17.09 points, or 0.34 percent, to 5,005.73.
The S&P and Dow closed at record highs. 1
S&P flat
Nasdaq - .3%
Oil $45.11 -$1.69
Gold prices ended the U.S. day session moderately higher Wednesday on a corrective bounce as traders once again “bought the dip” after Tuesday’s solid selling pressure. Gold bulls remain in firm near-term technical control of the charts, which is encouraging buying interest as such suggests the path of least resistance for prices will remain sideways to higher in the near term.
Gold $1364 +.7%
Silver $ 20.31 +.19
HUI + 2.9%
AUD Gold $ 1764
AUD .7604
Have a good day
1 Reuters
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