daytrades march 17 pre-market, page-6

Good morning,

Thanks Hll and PJ

US Stocks closed higher Tuesday after the Federal Reserve voted to keep interest rates at historic lows and Standard & Poor's did not downgrade Greece's credit rating.

The Dow Jones industrial average (INDU) rose 44 points, or 0.4%. The S&P 500 index (SPX) added 9 points, or 0.8%, to close at a fresh 18-month high. The Nasdaq composite (COMP) gained 16 points, or 0.7%.

US Stocks have been grinding higher in recent weeks as traders remain bullish about the economic recovery. But the number of shares trading hands has been relatively low, suggesting that many investors are on the sidelines awaiting more concrete evidence of improvement.

Analyst said "The market has been in an optimistic mania. For whatever reason, investors have cast aside worries and money is flowing into both stocks and bonds We think this is a transition phase for the economy. There are plenty of opportunities for investors to become discouraged."

In London, the FTSE 100 index added 0.48 per cent, or 11.63 points, to close at 5,620.43.

FRANKFURT - The Dax gained 39.49 points, or 1.14 per cent, to 5,970.99.

PARIS - The CAC 40 rose 26.39 points, or 1.23 per cent to 3,938.95.

World oil prices bounced above $US82 on Tuesday, after recent heavy losses, with traders on tenterhooks before a US interest rate decision and on the eve of an OPEC production meeting.

New York's main contract, light sweet crude for April delivery rallied as high as $US82.04 per barrel. It later settled at $US81.70, up $US1.90 from Monday's close.

The Australian market has received positive leads from overseas, with securities spiking higher on Wall Street after the Federal Reserve kept interest rates on hold and signalled they would stay down for some time yet. Commodities were higher, too.

At 0659 AEDT on the Sydney Futures Exchange, the March share price index contract was 36 points higher at 4,840 points.

GOLD up $17.10 to US$1,222.50 an ounce
SILVER up 24.6c to US$ 17.354 an ounce
COPPER up 5c at US$3.365 a pound

Today's Financial Calendar
March 17 2010

Japan BoJ rate decision
Australia Westpac-MI leading economic index, Jan
Australia dwelling starts, Q4
EU eurozone labour costs, Q4
EU construction output, Jan
UK minutes of BoE meeting
US producer price index, Feb
OPEC quota meeting in Vienna
(DJS) - Interim result
(EVZ) - Ex-Div. 0.25c
(MLB) - Ex-Div. 8c
(RFG) - Ex-Div. 5.25c

http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/

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