US sharemarkets fell again on Friday. Despite rising as much as 137 points in response to strong jobs data, fears about the health of the Chinese economy and weaker oil prices dragged indices lower. The Dow Jones index ended trade down by almost 168 points or 1.0%. The S&P 500 was lower by 1.1% while the Nasdaq was down by 46 points or 1.0%. Over the week the Dow fell by 6.2% with the S&P 500 down by 6.0% and the Nasdaq lost 7.3%.US oil ...
US sharemarkets fell again on Friday. Despite rising as much as 137 points in response to strong jobs data, fears about the health of the Chinese economy and weaker oil prices dragged indices lower. The Dow Jones index ended trade down by almost 168 points or 1.0%. The S&P 500 was lower by 1.1% while the Nasdaq was down by 46 points or 1.0%. Over the week the Dow fell by 6.2% with the S&P 500 down by 6.0% and the Nasdaq lost 7.3%.
US oil prices fell on Friday despite solid US jobs data. Weaker European and US equities affected sentiment on oil. While the US oil rig count fell to 5-year lows, analysts speculate that oil prices may need to fall further to rebalance the market. Brent crude fell by US20c or 0.6% to US$33.55 a barrel with US Nymex lower by US11c or 0.3% to US$33.16 a barrel. Over the week Brent fell 8.0% and Nymex fell by 9.4%.
Hello All,
Please find today’s Market Update. Feel
free to download and disseminate on your radio stations.
Kind Regards,
The CommSec Media Team
This report is
approved and distributed in Australia by Commonwealth Securities Limited ABN 60
067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary
of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the
Bank). The Bank and its subsidiaries have
effected or may effect transactions for their own account in any investments or
related investments referred to in this report. This report is not a
recommendation to buy, sell or hold any securities or financial products, and
has been prepared without taking account of the objectives, financial or
taxation situation or needs of any particular individual. For this reason, any individual should,
before acting on the information in this report, consider the appropriateness
of the information, having regard to the individual's objectives, financial or
taxation situation and needs and, if necessary, seek appropriate professional
advice. This report is produced by
Commonwealth Research based on information available at the time of publishing. We believe that the information in this
correspondence is correct and any opinions, conclusions or recommendations are
reasonably held or made as at the time of its compilation, but no warranty is
made as to accuracy, reliability or completeness. To the extent permitted by law, neither the
Bank nor any of its subsidiaries accept liability to any person for loss or
damage arising from the use of this report.
View more
