Morning all
Thanks AM crew
SPI -3 @ 5761
Yesterday the ASX managed to eke out a small gain despite the worst day for Telstra shares in six-and-a-half years.
Late support for heavyweight bluechips in the banking, mining and healthcare sectors was enough to swing shares into the positive in late trade, leaving the XJO index up 7 points higher at 5816.
1
U.S. equities slipped Thursday, taking a breather after posting records closes for five straight days, while energy dropped 1 percent.
"It's certainly a market that has confidence. The problem with that is, when confidence gets that high, it's harder to push the market considerably higher," said Bruce McCain, chief investment strategist at Key Private Bank.
The Dow Jones industrial average fell 30 points, with Goldman Sachs and Chevron contributing the most losses.
The S&P 500 dropped 0.27 percent, with energy leading decliners.
The Nasdaq composite also declined 0.25 percent. T
he major indexes posted fresh intraday highs earlier in the session.
"I think the market has a problem here, and that is complacency," said Peter Cardillo, chief market economist at First Standard Financial. "Investors are getting ahead of themselves with the prospects of Trump moving forward with tax reform." 2
Oil prices were choppy on Thursday following reports OPEC could extend its oil supply-reduction pact with non-members and might even apply deeper cuts if global crude inventories failed to drop to a targeted level.
Benchmark Brent crude was down 4 cents at $55.71 a barrel by 2:33 p.m. ET (1933 GMT). The contract peaked at $56.24 during the session and bottomed at $55.13
U.S. light crude settled 25 cents, or half a percent, higher at $53.36 a barrel. It traded between $52.68 and $53.59.
3
Copper - 1.1%
Nickel + 1.1%
Zinc - 1.2%
Aluminium - 1%
Gold prices were ending the U.S. day session moderately up Thursday, supported by a lower U.S. dollar index and U.S. stock indexes on this day. The technical charts for gold and silver also remain in the bullish camps, as both markets are in near-term price uptrends. 4
Gold $1240
HUI + 2.2%
AUD Gold $1611
AUD .7694
Have a good day
1 SMH
2,3 CNBC
4 *****
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