ASX200 Stock and CFD Report 9-7-09

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The SFE Futures fell 4 points overnight. BHP and RIO both up in ADR form overnight, up 1.27% and 0.99%. RIO down 1.3% in the UK. BHP closed at the equivalent of 3222c, down 8c on last night’s close. Metals down – Copper down 3.2%, Nickel down 4.5%, Zinc down 3.9%, Aluminium down 4.3%. Oil price down for a 7th day. Down 4.34% or $2.73 to $60.15 on weak gasoline inventory numbers. Gold down $20 to $909. Down 2.16%. Lowest in 2 months. Bonds up – Good day in the Bond markets – 10 year yield at 3.289% down from 3.460%.A$ down to $77.99 versus $78.86 yesterday morning. The Yen fell 2.3% against the US$….the worst one day fall in a year on political unrest in China. CRB Commodities index down 2.3% and is down 5% on the week. VIX Volatility Index down up 1.46% to 31.30. Hit 33 mid session.

The IMF upgraded its 2010 GDP growth forecast for the global economy to 2.5% (it was 1.9% in April). The US, UK, Canada and Japan (not Europe) are all expected to return to growth. G8 Meeting says the global economy still faces significant risks. Retailers up 2.0%. Gold stocks down as well….looks like the gold price is going to go under $900 having hit 987 on June 2nd. Telecom sector 3.0% lower led by falls in AT&T and Verizon on broker downgrades.Financials down 4.0% at one point but closed down 1.7%.

The market is down 3. We were down 26 earlier in the morning. Dow Futures are up 41 at noon. Australian job numbers are slightly better than expected this morning. Unemployed up 12.6% on the month and up 41.2% on the year. Unemployment rate 5.8% against some expectations for 5.9%. Up from 5.7% last month. The July Australian inflationary expectations survey says prices are expected to increase by 3.2% in the next year, up from +2.8% in June.

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