Presented by Michael Hevern
MDS Financial
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In this morning’s wrap…
World Indices
DOW up 0.2%
- Financial Sector struggling; Citigroup and Bank of America in the news
- JP Morgan profit down 76%
- Bounces off 8000 level
NASDAQ up 1.5%
- Microsoft job cuts; Yahoo not selling
- Steve Jobs on medical leave
- Volumes up (Options expiring)
FTSE down 1.4%
- Energy stocks down
- HSBC may need further capital
- ECB may cut interest rate below 2% in March
NIKKEI down 4.9%
- Yen continues strong
Commodities
Oil down 5%
- below $40 mark ($34)
Gold down 0.2% ($809)
Silver up 0.4%
Aluminium down 0.9%
Lead up 2%
Zinc flat
Oil stocks index up 0.7%
Gold stocks index up 4.3%
Commodities stocks index up 2%
Local Index
SPI up 19 points overnight
- Below critical 3600 level
ASX News
Caltex reported 30% increase in profit
Woodside halting OceanWay project
BHP & RIO to recover based on ADRs
Short Selling Ban
Gold stocks to recover
Energy to be flat
ASX to open slightly up
Bank of America executives land in the Hudson River
