Morning all
Thanks weekend crew
SPI: -1 @5402
XJO Friday: -12 @ 5430
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US markets were fairly flat on Friday, but they did close well off their session lows.
Stocks closed mostly flat on Friday amid a strong dollar and as earnings season continued.
The Dow Jones industrial average closed about 15 points after momentarily trading higher, with
IBM contributing the most losses, offsetting gains from
McDonald's and Microsoft. At session lows, the index fell 112.58 points.
The S&P 500 ended around breakeven after holding lower for most of the session, with consumer discretionary leading advancers. Consumer discretionary stocks were led by
Time Warner, which rose 7.82 percent amid reports the firm has engaged in talks for a deal to be bought out by
AT&T, which dragged the telecommunications sector lower by falling 3 percent.
The Nasdaq composite outperformed, rising 0.3 percent after Microsoft hit a new all-time high. For the week, the three major indexes notched slight gains. 1
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According to data compiled by The Earnings Scout, 80 percent of the 116 S&P components that had reported as of Friday morning had beaten Wall Street's earnings estimates, while 65 percent had beaten revenue estimates.1
In oil markets,
U.S. crude for December delivery rose 0.43 percent in choppy trade to settle at $50.80 per barrel. According to data from Baker Hughes, rig counts in the U.S. rose by 11 to 443, marking the 17th straight week without a cut.
The dollar was up about half a percent against the euro; the two big currencies matter most when it comes to gold prices. Today’s jump in the dollar represents an eight-month high.
In spite of the continued surge of the U.S. dollar, gold is eking out a gain today thanks to regular trading activity. The dollar dragged gold down by 0.35% and regular trading pushed it up about 0.55%. 2
Gold $1266
HUI - .4%
AUD Gold $1664
AUD .7606
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have a great day
1 CNBC
2 *****
