daytrading jan 4 afternoon

Thanks Suzie for guiding us back into January.

Half-time round-up:

Australian stocks put in their strongest morning in more than four weeks as resource stocks responded to the best session for commodity prices in eight months.

At lunchtime the ASX 200 was ahead 91 points or 2.2% at 4193 and on track for its highest close since mid-December. All sectors were trading higher, led for a second day by the metals & mining sector +3.4%, energy stocks +2.4% and gold stocks +2.4%.

Asian markets resumed after the New Year break with more restrained advances. Japan's Nikkei rallied 1.22% and Shanghai 0.5%. Hong Kong's Hang Seng, which traded yesterday, rolled over recently at -0.11%. Dow futures were recently off four points or less than 0.1%.

"Concerns about the global economic future are receding," an equities manager at SMBC Nikko Securities in Tokyo told Bloomberg. "Overseas markets across the board have started this year's trading on a positive note as investors increase their tolerance to risk."

The dollar pulled back from a one-month high this morning but remained well supported as commodity prices rallied overnight in response to better-than-expected manufacturing reports from the US, China, Germany, Australia and India. The Aussie was lately buying US$1.0349.

Crude oil futures gave back 33 cents this morning at US$102.72 a barrel. Spot gold dropped $4.80 to US$1,599.60 an ounce.


Golly, isn't 2012 nicer than last year? At this rate the XJO will hit 5000 by the end of the month and we can have the rest of the year off. Won't that be nice. I'd be enjoying this a lot more if I had been around last week to pick up some oversolds. Bet Cha and Burnett are minting it?