Morning all
Thanks AM crew. Rav your scans are completely under acknowledged imo
SPI futures are 15 points higher today as US closed flat after the Fed left interest rates on hold overnight.
Yesterday the XJO eeked out a mini gain to keep the remarkable run of late in play.
Although interest rates were kept on hold, the door was left ajar for higher interest rates later in the ear from comments made.
The U.S. central bank indicated less worry about possible shocks that could push the U.S. economy off course and noted that inflation expectations were little changed in recent months.
"The statement is more constructive about the economy," said Mike Materasso, senior vice president at Franklin Templeton in New York. "A rate increase is warranted this year, most likely at the end of the year, but a lot has to do with a benign world arena." 1
The comments overshadowed the positive sentiment from Apples' quarterly that helped the stock to a nice gain.
Facebook also surged after last night close up 6%.
S&P - .1%
Nasdaq + .6%
Oil - 2%
Gold and silver prices were ending the U.S. day session higher and near their daily highs Wednesday. Short covering in the futures market and bargain hunting in the cash market were featured in both markets.
Gold $1340 +1.5%
Silver $20.32 + 3.8%
HUI + 4%
AUD Gold $1788
AUD.7494
Local markets will have extra steam behind it as bets point toward the Reserve Bank lowering rates here next week after yesterdays ultra low inflation numbers.
The Bank of Japan meets today tomorrow to discuss stimulus measures
Have a good day
1 Reuters
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