Market wrap: Wall Street capped its best month in seven years with another green session overnight but profit-taking pared gains near the close. The Dow was ahead more than 2.5% with an hour left to trade but finished up just 1%. The S&P gained 1.3% and the Nasdaq 1.8%. Financials recovered most of yesterday's heavy losses. The REIT index was notably strong with a rise of more than 8%.
A late rally in crude drove prices up 2.5% to $49.10. Gold continued to tread water, recently trading virtually unchanged at $918. Copper led a rally in base metals to finish its best quarter in three years.
Futures traders expect our market to reverse yesterday's losses. The SPI gained 26 points at 3592.
Australia has just had its best month in nine years, but that final-hour sell-off on Wall Street suggested indecision about direction for the rest of the week. The G20 Summit could surprise to the upside but expectations are low. Today's session should be very interesting both here and abroad.
