Morning all
Thanks AM crew
The local stock thingy is set for a boost this morning following positive overnight leads from Apple and energy shares.
Futures are a solid 47 bits north at 5393
Apple shares finished up 3.7 percent after Berkshire Hathaway bought about $1 billion in the iPhone maker. The stock, which had lost about one-fifth of its value in the past month, gave the biggest boost to the three indexes.
The S&P energy sector gained 1.6 percent as oil prices hit six-month highs. Crude prices were supported by worries about global supply outages and as long-time bear Goldman Sachs sounded more positive on the market.
Oil prices have recovered some ground after touching 12-year lows earlier in 2016, with volatility in oil causing jitters in other markets.
"Oil is the catalyst, but the move today wouldn't have been this big if stocks had not been this weak lately," said Jim Paulsen, chief investment strategist at Wells Capital Management in Minneapolis. 1
S&P +1%
Nasdaq +1.2%
Oil $ 47.89 + $1.68
Base metals flat
Gold prices ended the U.S. day session slightly higher Monday but well off the highs seen earlier in the day. A rally in the U.S. stock market Monday worked to temper buying interest in the safe-haven metal. Still, gold continues to show the resilience required to extend the present near-term price uptrend. Gold at $1,274. Silver was last at $17.12 . 2
HUI + 2.8%
AUD Gold $1748
AUD .7291
Have a good day
1 Reuters
2 *****
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