A rally in US financial shares and signs of improvement in the retail sector gave the blue chips a boost Thursday, but the broader market dragged on jitters ahead of Friday's big government jobs report.
The Dow Jones industrial average (INDU) added 33 points, or 0.3%, according to early tallies. Boeing (BA, Fortune 500), General Electric (GE, Fortune 500) and the bank stocks led the advance.
Analyst said "Right now things are shaping up to be pretty decent for 2010. Unemployment is going to be stubborn, but we'll see good earnings growth, especially in the first half and that will help stocks."
LONDON - European stock markets closed mixed on Thursday ahead of a US employment report many hope will signal that the US economic recovery is picking up steam.
Better-than-expected US weekly jobless claims bolstered confidence amid speculation that Friday's US data might show a return to job creation after two years of heavy losses.
But investors were not ready to make any major commitments, leaving the market stuck in a narrow trading range.
The FTSE 100 index of leading shares fell 3.32 points, or 0.06 per cent, to 5,526.72 points.
FRANKFURT - The DAX 30 fell 14.97 points, or 0.25 per cent, to 6,019.36 points.
PARIS - The CAC 40 added 7.13 points, or 0.18 per cent, to 4,024.80.
Oil prices fell below $US83 a barrel on Thursday, as the US dollar strengthened and investors worried a 20 per cent rally in the past few weeks was not justified amid sluggish demand for US crude oil.
At 0651 AEDT, New York's main futures contract, light sweet crude for February delivery, was 47 US cents lower at $US82.71 a barrel and on course to end lower for the first time in 10 sessions.
The Australian share market has received a mixed set of leads from overseas markets in offshore trading, with Wall Street's main indices and silver trading higher, but oil, copper and gold prices weaker.
At 0645 AEDT on the Sydney Futures Exchange, the March share price index contract was 22 points higher at 4,906 points.
In economics news on Friday, the Australian Industry Group-Housing Industry Association performance of construction index (PCI) for December is due at 0930 AEDT.
GOLD down $2.80c to US$1133.70 an ounce SILVER up 17c to US$18.345 an ounce COPPER down 6.75c at US$3.4270 a pound
Today's Financial Calendar January 08 2010
US wholesale inventories, Dec US unemployment numbers, Dec US consumer credit, Nov EU GDP (revision), Q3 EU unemployment, Nov UK producer price index (PPI), Dec
TRF: Should bounce. Will they dump is the question and record date is still early.
SHE: I like this stock. A few buyers off the screen testing the patience of the sellers.
BMN: No sell off at all yesterday close. Mine application result coming out or not?
