FYI | Nov 24 2007
By Greg Peel
There’s not much to say about Friday’s bounce on Wall Street, given no data or news releases, and a half-day session manned only by an unlucky few.
The Dow put on 181 points, or 1.4%, to remain under 13,000 at 12,980. The S&P added 1.7% and the Nasdaq 1.3%. Traders were pleased the market didn’t go the other way, but are not prepared to read much into the holiday session.
Oil rose 89c to US$98.18/bbl, pushed along by a drop in heating oil inventories. The US dollar slipped once more (except against the yen) and the combination of oil and dollar sent gold up US$16.90 to $821.60/oz.
Base metals in London were happy to be free of much US investor influence, and staged a bit of a come back after a tough week. Lead added 3.5%, zinc and tin 3% and copper 2%.
The SPI Overnight put on 77 short-session points.
Sorry to be so brief, but it’s all a bit meaningless really. It would have been similarly meaningless if the Dow had fallen 181 points. Anyway, I’m off to vote.
