Morning All
Thanks Rockstar Jones for filling in, great job and Trees long time since I heard Ramble On
Morning all
SPI: -6 @ 5537
XJO Yesterday: +8 @ 5562
Markets pulled back overnight on concerns interest rated would rise in the coming months. Healthcare, materials and energy stocks were most affected.
Oil and gold were trousered, Newmont and Freeport losing 7% approx.
Healthcare shares fell 1.6 percent, their biggest drop since June 24.
The market is awaiting Federal Reserve Chair Janet Yellen's speech in Jackson Hole, Wyoming, on Friday for insight on the direction of monetary policy.
Recent hawkish comments from some Fed officials, including Vice Chairman Stanley Fischer, have raised expectations that Yellen might signal a hike in September.
"The market over the past several weeks has been in a holding pattern, really not doing much of anything and the reason for that is everyone is waiting to hear what Yellen is going to say," said Peter Cardillo, chief market economist at First Standard Financial in New York.
"Of course the markets might get surprised. The markets are looking for clarity and we might not get clarity." 1
S&P: - .5%
Nasdaq: - .8%
Oil prices tumbled on Wednesday, with U.S. crude settling about 3 percent lower, after an unexpectedly large inventory build in the world's biggest oil consumer renewed worries about oversupply.
The US EIA said crude inventories rose 2.5 million barrels last week, versus analysts' forecasts for a draw of 500,000 barrels. 1
Oil: $ 46.80 - $1.30
Iron Ore: Flat % 61.22
Copper: Base metals pretty flat
Nickel:
Zinc:
Aluminium:
Gold prices ended the U.S. day session solidly lower and hit a four-week low Wednesday. Modest overnight selling pressure accelerated at the U.S. Comex futures opening, when sell stop orders were triggered as prices moved below key near-term technical support levels. 2
Gold: $1323
HUI: - 7.8%
AUD Gold: $ 1739
AUD: .7613
On Today:
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Have a good day
Sources:
1 Reuters
2 *****
