Recent Australian Stock Exchange Market Turnover
Aus$4,386,191,191.00
Aus$4,386,191,191.00
US ISM Manufacturing Index fell from 52.9 to 52.6 in September, but still confirmed an expansion in the manufacturing sector. The key sub-index of new orders fell from 64.9 to 60.8. The fall may be due to the end of the cash for clunkers program that had boosted auto production in previous months.
US pending home sales rose by 6.4pct in August, marking a seventh consecutive month of gains. US personal spending jumped from 0.3pct to 1.3pct in August - marking the largest gain in 8 years. Spending was up for the fourth month in a row and beat expectations of a 1.1pct rise.
US initial jobless claims rose by 17k to 551k in the latest week. Those people remaining on claims after drawing an initial week of benefits fell by 70k to 6.09 million claims. In the first month after the end of the cash-for-clunkers programs, automakers reported declines on average of around 20-25pct with Chrysler and General Motors seeing volumes nearly halved.
US sharemarkets suffered their worst one-day loss in three months on Thursday. The weaker than expected employment and manufacturing data highlighted to investors that the economic recovery cannot be taken for granted. All 30 stocks on the Dow Jones closed weaker. In the tech sector Microsoft lost 3.3pct on broker downgrades. The US Dow Jones fell by 203 points or 2.1pct with the S&P 500 lower by 2.6pct and the Nasdaq down by almost 65 points or 3.1pct.
US treasuries rose on Thursday (yields lower) in response to the slide in equity markets and weaker economic data. US 10yr yields fell by 13pts to 3.18pct with US 2yr yields down 9pts to 0.87pct.
The US dollar rallied against major currencies on Thursday as traders switched back into the safe-haven greenback. The Euro hit early highs near US$1.4600 before falling to lows around US$1.4520, ending US trade near its lows. The Aussie dollar fell from highs near US88.25c and to lows around US86.75c, ending US trade near US86.80c. And the Japanese yen gravitated between 90.10 yen per US dollar and JPY89.45, ending trade near JPY89.75.
Crude oil prices fell marginally on Thursday as the weaker than expected US manufacturing data confirmed the economic recovery is likely to remain patchy. The Nymex oil contract fell by US$0.49 or 0.7pct to US$70.12 a barrel. And London Brent crude fell by US$0.50 to US$68.57 a barrel.
Base metal prices fell sharply on the London Metal Exchange, on the back of the weaker US factory data. Lead lost 4.5pct and other metals fell 2-3pct. The price of gold fell in line with other commodities. The Comex quote lost US$8.60 an ounce or 0.9pct to US$1,000.70.
Ahead: In Australia, the inflation gauge is released. US non-farm payrolls and factory orders are released.
Here's what to look forward to in the US Tonight
Friday 2nd October 2009
US pending home sales rose by 6.4pct in August, marking a seventh consecutive month of gains. US personal spending jumped from 0.3pct to 1.3pct in August - marking the largest gain in 8 years. Spending was up for the fourth month in a row and beat expectations of a 1.1pct rise.
US initial jobless claims rose by 17k to 551k in the latest week. Those people remaining on claims after drawing an initial week of benefits fell by 70k to 6.09 million claims. In the first month after the end of the cash-for-clunkers programs, automakers reported declines on average of around 20-25pct with Chrysler and General Motors seeing volumes nearly halved.
US sharemarkets suffered their worst one-day loss in three months on Thursday. The weaker than expected employment and manufacturing data highlighted to investors that the economic recovery cannot be taken for granted. All 30 stocks on the Dow Jones closed weaker. In the tech sector Microsoft lost 3.3pct on broker downgrades. The US Dow Jones fell by 203 points or 2.1pct with the S&P 500 lower by 2.6pct and the Nasdaq down by almost 65 points or 3.1pct.
US treasuries rose on Thursday (yields lower) in response to the slide in equity markets and weaker economic data. US 10yr yields fell by 13pts to 3.18pct with US 2yr yields down 9pts to 0.87pct.
The US dollar rallied against major currencies on Thursday as traders switched back into the safe-haven greenback. The Euro hit early highs near US$1.4600 before falling to lows around US$1.4520, ending US trade near its lows. The Aussie dollar fell from highs near US88.25c and to lows around US86.75c, ending US trade near US86.80c. And the Japanese yen gravitated between 90.10 yen per US dollar and JPY89.45, ending trade near JPY89.75.
Crude oil prices fell marginally on Thursday as the weaker than expected US manufacturing data confirmed the economic recovery is likely to remain patchy. The Nymex oil contract fell by US$0.49 or 0.7pct to US$70.12 a barrel. And London Brent crude fell by US$0.50 to US$68.57 a barrel.
Base metal prices fell sharply on the London Metal Exchange, on the back of the weaker US factory data. Lead lost 4.5pct and other metals fell 2-3pct. The price of gold fell in line with other commodities. The Comex quote lost US$8.60 an ounce or 0.9pct to US$1,000.70.
Ahead: In Australia, the inflation gauge is released. US non-farm payrolls and factory orders are released.
Here's what to look forward to in the US Tonight
Friday 2nd October 2009
8:30 AM : Unemployment Rate
8:30 AM : Nonfarm Payrolls....
8:30 AM : Hourly Earnings......
8:30 AM : Average Workweek..
10:00 AM : Factory Orders.......
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8:30 AM : Nonfarm Payrolls....
8:30 AM : Hourly Earnings......
8:30 AM : Average Workweek..
10:00 AM : Factory Orders.......
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