Yesterday the S&P/ASX 200 closed up higher by 4 points to 4,385. Statistics coming out today is the labour force report for May. Many experts are tipping the unemployment rate to remain at 5.4%
The Dow Jones Industrial Average ended down 40 points to 9,899.25. Ben Bernanke, the chairman of the Federal Reserve Bank, said yesterday that growth in the US economy is ‘… not as fast as we would like’. He still has not made any commitment as to when interest rates for the US will return to more normal levels. Read more here.
Overnight the FTSE finished higher by 57 points to 5,085.86. BP [LON: BP] was bashed around by the market again, losing over 4% for the day. Shares in BP have lost over 40% of their value since the oil leak in April. However most other commodity related stocks ended up for the day.
The Nikkei was down 98 point to close at 9,439.13.
The price of spot gold in Australian dollars is trading at $1,486.13 while in US Dollars it is trading at $1,231.16. The price of silver in Aussie dollars is $21.86 and in US Dollars it is $18.11.
The Aussie dollar versus the US dollar is USD$0.8293 and against the Japanese Yen JPY75.73.
Oil jumped over 3% on reports that Chinese exports grew over 50% for the month of May. Crude Oil closed at USD$74.05.
For the biggest movers on the market yesterday click here…
That’s all I have for you this morning, see you tomorrow.
Shae.
