Morning all
Thanks Shants and friends
Lower oil prices led markets lower overnight after a higher open and positive signs from European markets.
Losses were offset by a solid Private Sector jobs figure ahead of tonights Non Farm Payrolls release.
SPI Futures are 21 points lower at 5171.
The Dow Jones industrial average gave up opening gains, briefly falling 100 points before closing 22.7 points lower, with Chevron,UnitedHealth, Travelers, and Exxon Mobil having the greatest negative impact.
The S&P 500 closed slightly lower, a touch below the psychologically key 2,100 level. Utilities and telecoms lagged, while energy lost 1.05 percent as one of the greatest decliners.
U.S. crude oil futures settled down $2.29, or 4.83 percent, at $45.14 a barrel. Oil erased gains to trade lower after the EIA said weekly crude inventories declined 2.2 million barrels, far less than the 6.7 million barrel drawdown the American Petroleum Institute reported late Wednesday.
John Kilduff, founding partner of Again Capital, said the smaller-than-expected drawdown in oil and gasoline inventories sent oil lower, and WTI broke a key support level at $46 a barrel. $43 is the next level to watch, he said. c
Iron ore -1.% @ $55.07 t
Copper - 1.6%
Nickel - .6%, Zinc - .3%
Yesterday Australia's credit rating was cut to negative from AAA over the unresolved election and increasing debt.
Way to go Malcolm!
Gold $1359
HUI - 3.3%
AUD Gold $1818
AUD .7479
Have a good day
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Morning all Thanks Shants and friends Lower oil prices led...
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