Morning all
Thanks Shelbs
SPI: -1 @ 5424
XJO Yesterday: +6 @ 5442
Stocks closed lower Thursday, after a sharp fall in oil prices, while investors parsed through key U.S. economic data, and digested a key European Central Bank decision on interest rates.
The Dow Jones industrial average closed about 40 points lower.
The S&P 500 held 0.14 percent lower as telecommunications fell approximately 2 percent.
The Nasdaq composite slipped 0.1 percent. The three major indexes alternated between gains and losses throughout the session.
U.S. crude futures for November delivery fell 2.27 percent to settle at $50.43 per barrel, a day after hitting a 15-month high, as traders took profits off the table following the previous day's rally on another unseasonal draw in U.S. crude oil stocks.
"We think we're in a trading range of $40-to-$60 per barrel. We don't really see a catalyst for oil to go much higher," said Jon Adams, senior investment strategist at BMO Global Asset Management.
In U.S. economic news, existing home sales rose 3.2 percent last month to a seasonably adjusted rate of 5.47 million, their highest since June. Leading indicators for September, meanwhile rose 0.2 percent.
Meanwhile, weekly jobless claims rose by 13,000 to 260,000, but notched their 85th straight week coming in below 300,000, the longest period since 1970.
Investors also turned their eyes toward Europe, as the ECB kept interest rates unchanged, as was widely expected. Facing high unemployment, weak growth and ultra low inflation, the ECB has provided extraordinary stimulus in recent years, cutting interest rates deep into negative territory and pushing the cost of credit to all-time lows, hoping to jump start growth. 1
S&P: - .1%
Nasdaq: - .1%
Copper: - .5%
Nickel: - 1.8%
Zinc: - 1.5%
Aluminium: -1%
Gold prices ended the U.S. day session modestly lower Thursday, after poking to a two-week high early on. Slight early gains were erased in morning trading when the outside markets turned bearish—the U.S. dollar index rallied and crude oil prices sold off.
Gold: $1265
HUI: Flat
AUD Gold: $1659
AUD: .7631
On Today:
Have a good day
Sources:
CNBC
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