CMC Markets Weekly Report
U.S. stocks turned higher on Friday, with the Dow closing at an all-time high.
U.S. stocks turned higher on Friday, with the Dow closing at an all-time high.
The Dow Jones Industrial Average climbed 32.37 points, or 0.2 per cent, to 16,583.34, topping it�s April 30 close for its second record finish this year. The S&P500 advanced 2.85 points, or 0.2 per cent, to 1,878.48 and the Nasdaq added 20.37 points, or 0.5 per cent, to 4,071.87.
In U.S. economic news, wholesale sales rose by 1.1 per cent in March with inventories up 1.4 per cent beating Economist�s predictions of a 0.5 per cent lift in sales and a 0.8 per cent rise in inventories.
In commodity markets, oil prices eased slightly amid continued worries over Ukraine. The US benchmark, West Texas Intermediate for delivery in June, fell 27 US cents to close at $US99.99 a barrel. Brent North Sea crude for June slipped 15 US cents to trade at $US107.89 a barrel in London trade.
Gold prices closed nearly unchanged. Gold for June delivery slipped 10 US cents, to $US1,287.60 a troy ounce, on the Comex division of the New York Mercantile Exchange.
Nickel closed sharply higher on the London Metal Exchange. The LME's three-month nickel contract closed 2.6 per cent higher at $US19,905 a metric ton. Three-month copper closed 0.2 per cent higher at $US6,745 a ton.
As at 0700 AEST the Australian dollar is trading at 93.62 US cents, up from 93.56 cents on Friday. The currency peaked at 93.96 US cents late on Thursday night, its highest level since early November.
Ahead, we can expect the NAB business survey today however, all eyes will be on the 2014/15 budget out on Tuesday. In the US, the monthly Federal Budget figures are released.
In equities news, Incitec Pivot is expected to post half year results.
On Friday, the local market closed lower with the benchmark S&P/ASX200 index finishing down 17.7 points, or 0.32 per cent, at 5,459.1 points and the All Ordinaries index down 16.1 points, or 0.30 per cent, to 5,439.8 points.
Frequently Asked Questions about this Article…
The Dow Jones Industrial Average recently closed at an all-time high, climbing 32.37 points, or 0.2 percent, to 16,583.34. This marked its second record finish this year, surpassing its previous close on April 30.
The S&P 500 advanced by 2.85 points, or 0.2 percent, reaching 1,878.48, while the Nasdaq added 20.37 points, or 0.5 percent, to close at 4,071.87.
In March, U.S. wholesale sales rose by 1.1 percent, and inventories increased by 1.4 percent, both exceeding economists' predictions of a 0.5 percent rise in sales and a 0.8 percent increase in inventories.
Oil prices have eased slightly due to ongoing concerns over Ukraine. The US benchmark, West Texas Intermediate for June delivery, fell 27 US cents to close at $99.99 a barrel, while Brent North Sea crude for June slipped 15 US cents to trade at $107.89 a barrel.
Gold prices have remained nearly unchanged, with gold for June delivery slipping 10 US cents to $1,287.60 a troy ounce on the Comex division of the New York Mercantile Exchange.
Nickel closed sharply higher, with the three-month nickel contract rising 2.6 percent to $19,905 a metric ton. Meanwhile, three-month copper closed 0.2 percent higher at $6,745 a ton.
As of 0700 AEST, the Australian dollar is trading at 93.62 US cents, up from 93.56 cents on Friday. It peaked at 93.96 US cents late on Thursday night, marking its highest level since early November.
Investors should keep an eye on the NAB business survey and the release of the 2014/15 budget on Tuesday. In the US, the monthly Federal Budget figures are also set to be released.
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