Morning all
Thanks AM crew
SPI: + 25 @ 5458
XJO Yesterday: -31 @ 5453
Futures point to a positive open today given the green in US markets overnight.
Rising oil prices continue to buoy energy stocks, and financial stocks also enjoyed gains.
The SPDR S&P 500 Bank ETF (KBE) rose around 2 percent and posted its best day since August 5.
The Dow Jones industrial average ended about 110 points higher, with Goldman Sachs, Boeing and Caterpillar contributing the most gains. Intraday high was 147 points.
"We think the market is accepting that rates are going to go higher," said Thomas Wilson, senior investment manager at Brinker Capital. "It's interesting because the market was at a point where good news was seen as bad by the market. I think the market is driving away from that, and that's good."
Companies in September created jobs at the slowest pace in six months as the labor market showed further signs of tightening, according to a report Wednesday from ADP and Moody's Analytics. ADP's report is seen as a preview of the U.S. government's monthly nonfarm payrolls report, due Friday at 8:30 a.m. ET.
The S&P 500 rose 0.4 percent, with financials and energy gaining more than 1 percent to lead advancers. The Nasdaq rose approximately 0.5 percent. 1
Oil prices settled up about 2 percent on Wednesday, hitting their highest since June, after the fifth unexpected weekly drawdown in U.S. crude inventories added to support on hopes that major producers will agree to cut output next month.
PIRA Energy Group, an influential New York-based consultancy, said it expects the glut that brought crude prices crashing from above $100 a barrel over two years ago will be gone by the second quarter of 2017. It also believes OPEC kingpin Saudi Arabia is trying to sustain prices at $50-$60.
Oil has rallied 13 percent over the past six sessions .
Brent crude settled up 99 cents, or 2 percent, at $51.86 a barrel. It rose earlier to $52.09, its highest since June 10.
U.S. West Texas Intermediate (WTI) closed up $1.14, or 2.3 percent, at $49.83. 2
Copper: - .12%
Nickel: + .27%
Zinc: - 1.4%
Aluminium: + .38%
Gold prices ended the U.S. day session near unchanged to slightly lower Wednesday, on some mild follow-through pressure from the strong losses absorbed Tuesday. Prices hit a 3.5-month low again today. Near-term technical damage has been inflicted to suggest prices will continue to drift sideways to lower for at least the near term. 3
Gold: $1267
HUI: + .8%
AUD Gold: $1663
AUD: .7616
On Today:
![]()
Have a good day
Sources:
1 CNBC
2 Reuters
3 *****
- Forums
- ASX - Day Trading
- Day Trading 6 Oct Pre Market
Morning all Thanks AM crew SPI: + 25 @ 5458 XJO Yesterday: -31 @...
-
- There are more pages in this discussion • 36 more messages in this thread...
This thread is closed.
You may not reply to this discussion at this time.
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)