Morning all
Thanks Trees and friends
SPI: +31 @ 5496
XJO Yesterday: -35 @ 5508
In the US the three major indexes closed at fresh record highs.
Sharp gains in oil prices and strong quarterly results from retailers were mostly behind the strength.
"I think there are two main drivers here. One of them is oil," said Mariann Montagne, senior investment analyst at Gradient Investments. "The other part is this retail rally."
The Dow Jones industrial average closed about 115 points higher, with3M contributing the most gains.
The benchmark S&P 500 advanced about 0.5 percent, with energy rising more than 1 percent.
"We have good things happening with the consumer right now," said JJ Kinahan, chief strategist at TD Ameritrade. he also said the positive quarterly results from Alibaba are helping the market, as they show the Chinese consumer is doing well. Alibaba's U.S.-listed shares were up 6.14 percent.
The Nasdaq composite rose about 0.5 percent with the iShares Nasdaq Biotechnology ETF (IBB) gaining 1.07 percent.
"This has been a broad-based rally," said Bruce Bittles, chief investment strategist at Baird. "The market is following the broader trend, which is higher." 1
FTSE: + .7%
DAX: + .8%
S&P: + .45%
Nasdaq: + .45%
US oil settled 4.27 percent higher at $43.49 a barrel after comments from the Saudi oil minister about possible action to stabilise prices and as the International Energy Agency forecast crude markets would tighten in the second half of 2016. "Oil is about stabilization," said Art Hogan, chief market strategist at Wunderlich Securities. "If we get that above $40, we're going to be OK." 1
Oil: $43.46 + $1.75
Iron Ore: -.5% @ $59.94
Copper: + .5%
Nickel: - 1.2%
Zinc: -.45%
Aluminium: + .45%
Gold prices ended the U.S. day session with modest losses in a two-sided and lackluster trading session Thursday. A rebound in the U.S. dollar index was a bearish outside market force working against the precious metals on this day. Traders, investors and the markets have slowed down as mid-August approaches, which is vacation time for many westerners. Trading activity in many markets is likely to remain quiet until after the U.S. Labor Day holiday in early September. 2
Gold: $1338
HUI: + .85%
AUD Gold: $1739
AUD: .7699
On Today:
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Have a good day
Sources:
1 CNBC
2 *****
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