Jan 21, 2013
The market is down 5. SFE futures were up 17 this morning.
Dow Jones up 54. The Dow was up 55 at best and down 23 at worst and managed to close near its high of the day. The S&P 500 hit a fresh five year high and is holding the break of 1470. US consumer sentiment was down from 72.9 to 71.3 in January which was below the forecast of 75.0. Over the week the Dow Jones was up 1.2%, the S&P 500 up 0.9% and the Nasdaq was up by 0.3%. US markets will be closed on Monday for the Martin Luther King public holiday. The Australian market will be closed for the Australia Day holiday next Monday. Best sectors — industrials, materials. Worst sectors — technology, financials. The US two-year bond yield was down 2bpts to 0.254% and the US 10 year yield was down 4pts to 1.84%. Over the week the US two-year yield was unchanged and the US 10-year yield was down 2.5bpts. European markets mixed — UK FTSE up 0.36%, German DAX down 0.43%, France down 0.07%, Spain down 0.29%, Italy down 0.19%. Metals mixed — copper up 0.12%, nickel down 0.27%, aluminium up 1.38%, lead up 0.81%. Spot iron ore down 30c to $145. The spot iron ore price was down $9.80 last week.