The market isup 28 points.The Dow Jones was down 41 at 16,373. The market recovered from early losses — it was down as much as 81 points in the early hours of trade — but fell again in the final hours of trade in a 120 point range.
The S&P and Nasdaq rose despite the fall in the Dow for the second day. Trading was described as uninspiring, with economic data limited to the weekly MBA Mortgage Index, which rose 4.7% after an increase of 11.95 last week.
The S&P rose one point to 1845.
Oil was up 1.87%at US$96.75.
Gold fell $5.80 to US$1236.00 per ounce.
The US$ was strongeragainst most major currencies. The Aussie dollar was stronger and is currently trading at US88.52c.
VIX Volatility index fell 0.08% to 12.86.
US treasury markets fell — the yield on the 10 year bond rose three basis points to 2.865%.
European shares were generally weaker — the UK FTSE fell 0.12%, the German DAX fell 0.10% but the French CAC rose 0.03%.
European bonds were weaker — the yield on the Euro 10 year rose two basis points at 1.734%. The UK 10 year bond yield rose five basis points to 2.885% following better than expected employment data.
Base metal prices were mostly weaker — nickel rose 0.48% but copper fell 1.02%, aluminium fell 0.87% lead and zinc were down 0.64% and 0.55% respectively.
Iron ore was up US$0.30 at US$123.50 a tonne.
Proudly annoying those in power since 2000.
Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox