Morning all
First day of Spring today
SPI: -19 @ 5391
XJO Yesterday: -45 @ 5433
U.S. stocks closed lower Wednesday on falling oil prices as investors looked ahead to Friday's jobs report.
The Dow Jones industrial average fell more than 100 points in midday trade before closing about 50 points lower, with Boeing and Chevron contributing the most losses.
The S&P 500 fell about 0.25 percent, as energy and materials fell more than 1 percent and nearly 1 percent, respectively. Energy extended losses after after the Energy Information Administration said inventories rose by 2.3 million barrels last week.
"Basic materials, especially metals, are also tanking. Some of the areas that were giving support to the market are not doing well," said Chuck Self, CIO of iSectors.
The S&P snapped a five-month winning streak, while the Dow ended a six-month winning streak.
"I think there's a real trepidation surrounding Friday's number," said Quincy Krosby, market strategist at Prudential Financial. "The report we get for August is often weaker than expectations. You don't want a much weaker number that suggests the economy is weakening, but you don't want a much stronger report."
Oil prices fell 3 percent on Wednesday, paring their big gains for August, after government data showed a larger-than-expected weekly build in U.S. crude and distillate stockpiles and a smaller-than-expected drawdown in gasoline.
Oil: $44.86, -$1.49
Iron Ore: $57.18, - .9%
Copper: + .25%
Nickel: - .3%
Zinc: - .1%
Aluminium: -1%
Gold slid to a two-month low on Wednesday after forecast-beating U.S. jobs data stoked speculation that the Federal Reserve would move ahead with plans to raise interest rates, briefly propelling the dollar index to its highest in three weeks.
Gold: $1308
HUI: - 2%
AUD Gold: $1740
AUD: .7522
On Today:
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Have a good day
Sources:
CNBC
- Forums
- ASX - Day Trading
- Day Trading 1 Sept Pre Market
Morning all First day of Spring today SPI: -19 @ 5391 XJO...
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