Daily Market Reports

Oil rose, gold fell, metals fell and the Dow rallied 45 points in what was a very muddled session last night.

Oil fell over US$3 last night on profit-taking, sending the Dow up 68 points.

With the US and UK closed, there were no major movements in Europe or elsewhere last night.

Oil rose once more and the Dow fell 145 points as the housing slump suddenly became important again.

It was not quite a major reversal, but oil fell back to US$130 last night allowing a thinly-traded Dow to gain 24 points.

The Dow fell another 200 points last night as oil hit US$134 and the Fed signalled it would not be cutting rates any further.

Soaring oil and subsequently rising inflation finally took its toll on Wall Street last night. The Dow fell 200 points.

The Dow gave back a 100 point rally to be up 40 when one chip-maker pointed to the Nymex.

The US share market closed the week with minor losses as continued strength in energy and resources offset weakness elsewhere in Friday’s session.

The Dow rose 94 points after selectively viewing mixed data and focusing on deal-making.