The share market erased two days of losses this morning but remains on track for a second losing week in three.
At lunchtime the ASX 200 was up by 53 points or 1% at 5341 with all sectors making advances. The best gains of the morning came in industrials +2%, energy +1.6% and the Small Ordinaries +1.4%.
Asian markets were mixed. China's Shanghai Composite fell 0.31%, but Hong Kong's Hang Seng gained 0.51% and Japan's Nikkei added 0.99%. Emini Dow futures were recently up six points or less than 0.1%.
Crude oil futures put on five cents this morning at US$95.21 a barrel. Spot gold recovered $3.40 to US$1,244.40 an ounce. The dollar was buying 92.34 US cents.
Someone poke me with a stick. Fifty-plus points ahead and there is nothing much doing. It feels like trading volumes at the spec end have tailed off, although the XSO does not show much to back that suspicion. Had a hunch yesterday was a buy-and-hold day but didn't act on it and therefore found myself twiddling thumbs this morning. No trades as yet. Glad I made a wage in the first half of the week. Could be an afternoon in front of the cricket.
