Morning all
A lovely day in Noosa to end the week, thanks AM crew
SPI: +22 @ 5376
XJO Yesterday: +35 @ 5374
Higher, higher climbed the US markets in the wake of interest rate sobriety as the Nasdaq plumbed™ new highs overnight.
The big tech names led broad gains, building on strength from the previous day.
The S&P 500 tallied its best two-day performance in more than two months, while the Nasdaq closed at a record high.
Aside from the potential for Monday's U.S. presidential debate having a big impact on the election, "there’s really nothing on the horizon until earnings season, and the Fed has kind of cleared the way for accommodative policy and low interest rate environment which bodes well for stocks," said Alan Lancz, president of investment advisory firm Alan B. Lancz & Associates in Toledo, Ohio.
The Fed strongly signaled it could still tighten monetary policy by year-end, and as of Thursday afternoon traders set the probability of a hike at the Fed's December meeting at 58 percent, according to the CME Group's FedWatch website.
Shares in Amazon hit record highs above $800. 1
S&P: + .65$
Nasdaq: + .84%
Oil prices rallied again on Thursday, boosted for a second day by U.S. government data that showed a surprising crude inventory drop, but crude futures pared gains as traders worried that OPEC was not nearing an agreement to reduce a global glut.
Oil got more support from the dollar's slide a day after the Federal Reserve kept U.S. interest rates unchanged.
U.S. WTI crude futures settled up 98 cents, or 2.2 percent, at $46.32 a barrel. The session high for WTI was $46.52.
Brent crude futures rose 82 cents, or 1.8 percent, to settle at $47.65. The session peak for Brent was $47.83.
Week-to-date, WTI rose 8 percent and Brent 4 percent, on track to their biggest weekly advance in nearly a month. 1
Copper: + .15%
Nickel: + .28%
Zinc: + .22%
Aluminium: + .39%
Gold and silver markets saw good follow-through buying interest Thursday, following solid gains Wednesday that came in the aftermath of central bank meetings in Japan and the U.S. that were deemed dovish on their monetary policies.
Technically, December gold futures prices closed nearer the session high and hit a two-week high today. The gold bulls have the overall near-term technical advantage and have gained more power late this week. Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at the September high of $1,357.60. 2
Gold: $1337
HUI: - 1%
AUD Gold: $1748
AUD: .7644
On Today:
Have a good day
Sources:
1 Reuters
2 *****
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Day Trading 23 Sept Pre Market
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