ASX200 Stock and CFD Report 8-7-09

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The SFE Futures fell 62 points overnight. BHP and RIO both down in ADR form overnight, down 2.3% and 0.6%. Both up a bit in the UK. BHP closed at the equivalent of 3136c, down 89c on last night’s close. Metals down – Copper down 2.0%, Nickel down 3.5%, Zinc up 1.2%, Aluminium down 1.1%. Oil price down for a 6th day. Down 1.8% or $1.18 to $62.88. VIX Volatility Index down up 6.4% to 3.85.

Two Quotes: “US economy will be slower for longer” and “California is issuing IOUs to cover its IOUs”. Industrials down 3.3%. Energy sector down 2.5% as the oil price hit a month low. CRB Commodities index down 1.5%. VIX Volatility index above 30 again. Furniture store IKEA is expected to sack more employees on top of the 500 redundancies last month. Sales were down 7% on what billionaire owner IngvarKampard expected.

The market is down 27. It was down 58 at worst. The SFE Futures were down 62 overnight. Dow Futures are down 14 at noon.

• Housing finance numbers better than expected in May. Home loan approvals +2.2% in May from April compared to expectations of 1.5%.

• Investor confidence increased to a seasonally adjusted 52.6 in 2Q from 33.7 in the 1Q.

• Consumer sentiment was up by a higher than expected 9.3% in the month of July from June.

• Job numbers tomorrow where most economists are expecting 25,000 job cuts last month and an unemployment rate of 5.9%.

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