Morning Market Report
The Market is down seven points. The Dow Jones was down 73 points to 15,546. The market fluctuated between being “up and down” over the session and closed near its lows in a 100 point range.
The S&P was down seven to 1757.
Earnings were a key driver — generally mixed. Visa (out after market close on Wednesday) dragged market lower while Expedia, Facebook and Expedia were seen positively.
Economic data was stronger. The weekly jobless claims fell but weren’t quite as good as expected — the October monthly employment report due on 8 November is the key statistic here. The Chicago PMI was surprisingly strong, up to 65.9 from 55.7 and the highest since March 2011. But some discounted its relevance due to its divergence from other indicators.
Oil fell 0.54% to US$96.24.
Gold was down US$26.90 to US$1322.40 per ounce.
The US$ rose against most major currencies and the Aussie dollar was slightly weaker, trading near its overnight lows at US$0.9456.
VIX volatility index rose 0.73% to 13.75.
US treasuries were weaker — The 10 year yield rose two basis points to 2.558%.
European share were stronger — The UK FTSE was the exception, falling 0.68%, but the French CAC rose 0.60% and the German DAX was up 0.26%. This was despite disappointing employment data.
European bonds were generally stronger. The Spanish 10 year bond traded briefly under 4% for just the second time this year, and closed at 4.03%.
Base metal prices rose — Led by aluminium up 1.8% and lead up 1.2%. Copper, nickel and zinc were all up more than 0.5%.
Iron ore rose US$0.70 a tonne to US$131.90 a tonne.
Page 1 of 2 | Next page