ASX200 Stock and CFD Report 20-7-09

View Full Report

The SFE Futures up 11 points overnight. BHP and RIO both up in ADR form overnight, up 0.79% and 2.80%. Up 0.52% and up 3.63% in the UK. BHP closed at the equivalent of 3554c, up 34c on last night’s close. Metals up - Copper up 0.8%, Nickel up 1.06%, Zinc up 4.65%, Aluminium up 0.84%. Oil price up 149c or 2.40% to $63.56. The West Texas Intermediate benchmark is now more than double its 22 December closing low of US$31.41 a barrel (it has risen by 6%+ over the past week). Gold up $2 to $937. Bonds down - 10 year yield at 3.651% up from 3.557%. A$ slightly up to 80.33c versus 80.54c Friday morning. CRB Commodities index up 1.7%. VIX Volatility Index down 4.25% to 24.34.

Financial sector up 9.4% last week. Housebuilders up 2.3% on better than expected housing numbers. Some commentators note the recent rise in bond yields which impact mortgage rates and could limit any housing sector recovery. Home improvement retailers up 1.3%. State-level jobless data highlight the challenges ahead, – 15 states reported 10%+ unemployment rates in the month of June and Michigan’s rate topped 15%, a reflection of the parlous condition of the US auto sector. The CRB Commodities index was up 1.7% in the best one day advance in four weeks. Low volume despite options expiry. 20% below average. S&P 500 was actually down on a string of stocks that fell on results although it has its first ” up” week in a month.

The market is up 52. Good start to the week. The SFE Futures were up 11 this morning. PPI fell by a larger than expected 0.8% in the June Q and is up 2.1% for the year. Economists

expected PPI to be down 0.1% on the quarter, +3% on year.

Related Posts:

1. ASX200 Stock and CFD Report 4-8-09
2. ASX200 Stock and CFD Report 7-7-09
3. ASX200 Stock and CFD Report 8-7-09
4. ASX200 Stock and CFD Report 17-6-09
5. ASX200 Stock and CFD Report 9-7-09
6. ASX200 Stock and CFD Report 5-8-09
7. ASX200 Stock and CFD Report 13-7-09