Morning Report Morning Thursday 2 April 2015
Overnight Market Matters Wrap:• The US equity markets closed lower overnight. The DOW ended 78 points (-0.4%) lower at 17,698 and the S&P 500 down 8 points (-0.4%) at 2,059.• The weakness in the US was driven from its weaker economic data - US private employers reported a rise in jobs, well below expectations.• The commodities space continues to be the main event. Oil rallied 5.2% overnight at US$50.09/bb after US stock supplies were reported below consensus. On the downside, Iron Ore sold off, down 3.5% at US$49.53/t.• As Subscribers know, Shawn holds Fortescue Metals (FMG) via options and because of this, he is more flexible with the current share price, however we are closely watching this and will provide an alert should we close this position.• The ASX200 is expected to open 20 points higher this morning, around the 5,880 level.
Show more...