ASX200 Stock and CFD Report 10-8-09

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The SFE Futures up 41 points overnight. BHP up 0.56% in ADR form overnight, RIO down 1.78%. BHP up 0.95% in the UK, RIO down 2.90%. BHP closed at the equivalent of 3858c, up 58c on last night’s close. Metals rebound again – Copper up 2.06%, Nickel up 0.10%, Zinc up 2.69%, Aluminium up 1.38%. Oil price down 99c to $70.93. Gold price down $3.40 to $959. Bonds down – 10 year yield at 3.854% up from 3.746%. A$ down to 83.49c versus 84.00c yesterday morning. CRB Commodities index unchanged. VIX Volatility Index down 3.54% to 24.76

S&P 500 up for the fourth week in a row. Volumes in the US market running 24% down on last year. Strong session for the US$ up 1.2% against a basket of currencies. Better than expected employment numbers will cause a good rally here today after our market fell 27 on Friday in nervousness about the number. 247,000 jobs lost against consensus of 325,000. Unemployment at 9.4% against consensus of 9.6%. June consumer credit numbers were down for a fifth consecutive month and provided a reminder that scope for a near term rebound in household spending is limited. Quote of the night: “The downturn has ended but the recovery hasn’t begun”. Housebuilders had a very strong Friday night in the US on the back of a good set of results from Beazer Homes (up 15.4%). That added to better than expected Pending Homes sales numbers last week and fed the recovery in the housing sector which was up 7.2% and up 13% for the week. Good for BLD, JHX and CSR today.

The market is up 44. Good start to the week - the market is up 44. The SFE Future were up 41 this morning. IRESS Market Technology (IRE), Biota Holdings (BTA), Customers (CUS), Mincor Resources (MIN) and Premier Investments (PMV) have all hit a fresh yearly high.

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