ASX200 Stock and CFD Report 16-7-09

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The SFE Futures up 72 points overnight. BHP and RIO both up in ADR form overnight, up 5.31% and 5.19%. Up 3.11% and 4.0% in the UK. BHP closed at the equivalent of 3492c, up 62c on last night’s close. Metals well up – Copper up 4.05%, Nickel up 2.33%, Zinc up 2.99%, Aluminium up 3.11%. Oil price up 187c or 3.14% to $61.49. Gold up $16 to $939. Bonds down on a switch into equities and some stronger economic vibes – 10 year yield at 3.596% up from 3.447%. The Fed has bought $202bn worth of bonds since March. A$ up to 80.40c versus 79.44c yesterday morning.VIX Volatility Index up 3.48% to 25.89.

The Dow Jones is now up 6.46% or 523 points in three days. The best week since March so far. The ASX 200 is up 5.0% in three days having fallen 9% from the high on June 12th. Intel up 7.25% on results with encouraging comments about the outlook for demand..seen as a sign of economic improvement. Helped the Nasdaq to outperform the Dow. Tech sector up 4.2% on the Intel results. Financials up 4.1%. Financials are up 10% so far this week. CPI numbers came in higher than expected (like the PPI numbers yesterday). Industrial production numbers OK but still the 17th drop in 18 months. FOMC Minutes saw the Fed upgrade their 2009/2010 GDP forecasts and although that has made the headlines here this morning the suggestion is that they didn’t really impact the market.

The market is having another big day. Up 85 much in line with the SFE Futures that were up 72 this morning. The ASX 200 is now up 7.8% or 289 points in a week having fallen 9% or 370 points from the high on June 12th. China has overtaken Japan as the world’s second-largest stock market by value for the first time in 1 1/2 years.

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