Morning all Thanks AM crew A 3% jump in oil prices and some...

Morning all
Thanks AM crew

A 3% jump in oil prices and some favourable though mixed earnings reports gave Wall St more steam last night, with indexes continuing to close on record highs, but faded late in the sessiom to close flat.
SPI Futures are 36 points higher at 5241

Indeed the S&P 500 has now risen 15% off its' February lows.
Data on Wednesday showed U.S. home resales rose more than expected in March, pointing to a continued recovery in the housing market, despite signs of sluggish first-quarter economic growth.
However good news will be needed to fuel this rally further, with several large funds already winding off their exposure to stocks at these levels.
Yahoo rose 4% while Coke fell almost 5% on a sugar soaked caffeine coated fourth straight declining quarter.
S&P flat
Nasdaq flat

China’s stock market closed sharply lower Wednesday, but well up from the daily spike low that spooked Asian market watchers. At one time, China’s Shanghai index was down 4.5% on the day, and ended the session down 2.3%. There was no single factor attributed to the sharp sell- off in the Shanghai index.

Iron ore surged to a 10-month high on resilient demand in China and BHP's plan to ease back on supply growth.
Iron Ore +4%, $64.77
Aluminium +2.5%, 6 month high
Other metals pretty flat with minor bumps

Gold prices ended the U.S. day session slightly lower Wednesday, after posting solid gains Tuesday. Meantime, silver continued its upside assault and hit another 10.5-month high. June Comex gold was last at $1,244 an ounce. May Comex silver was last at $16.94 an ounce.
HUI -2.5%
Aud Gold $1598

Aud .7796

On today
ECB rate decision with Mario Draghi ; International Oil Summit in Paris,
Overseas data: Euro-area consumer confidence (April); UK retail sales (March), UK budget balance (March); US jobless claims (weekly), US leading economic indicators (March).
Earnings: General Motors, Microsoft, Starbucks, Visa, Alphabet, Sky. 1


Have a good day

1 SMH