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Crude Oil prices gained over 3% Monday, as the major US market indices rallied and touched a new 2009 high. Light, sweet Crude Oil for December delivery rose US$2.55, or 3.3%, to settle at US$78.90 bbl on the New York Merc. US stocks rose, with the DJIA surpassing 10,400 during the session, as retail sales rebounded more than expected in October, giving Crude Oil and Gold a healthy boost North. Meanwhile, the USD fell against a basket of currencies, helping commodities to extend gains In London, Brent Crude for January delivery gained US$2.45 to settle at US$78.76 bbl on the ICE Futures exchange. Read more

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Global markets across a basket of assets are poised to challenge new highs for Y 2009, after a strong rally on Wall Street took the DJIA to a new high and a weak USD convinced investors into making riskier bets. European exchanges were predicted to start today with solid gains. This would be the 5th consecutive day of gains, taking the FTSE 100 close to its 12-month high of 5,281.54. Equity markets in Asia rose after the DJIA in New York finished at a new high for Y 2009, up 2% at 10,226. The US benchmark index, the S&P 500, rose 2.2%, and at 1,093.08 finished just shy its closing high for Y 2009 of 1,097.91. US futures currently point to the S&P 500 opening down about 4 pts on mild profit taking. Mainland China’s benchmark, the Shanghai Composite rose 0.4% to 3,189.03, Hong Kong’s Hang Seng was up 0.8% at 22,385.97. In Australia, the S&P /ASX 200 rose 1.3% as mining stocks surged. The dollar index hovered around the 75 level on a trade-weighted basis, having dipped to a 15-month low of 74.9 Monday. Traders will be watching to see if the US$ breaks decisively below 75 such a move could cause further selling. A well-received auction of US government bonds overnight supported Treasuries. Read more

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The Bull charged north today and the DJIA sliced into the psychological resistance at 10,000 for the 1st time since last October, as investors hailed the strong earnings reports from Intel Corp. and JPMorgan Chase & Co. The DJIA gained 134.45 pts, or 1.36%, to close at 10,005.51, the S&P 500 added 17.35 pts, or 1.62%, to end the session at 1,090.52, and the NAS tallied up + 27.97 pts, or 1.31%, to end the break thru day at 2,165.01. JPMorgan Chase, (covered in Stock Talk today) is the 1st major bank to report Q-3 earnings, the report announced profit in Q-3 climbed to US$3.59B, beating analysts’ estimates by almost 7 times. Intel, (covered in Stock Talk yesterday) the world’s largest computer-chip maker, reported a smaller-than-expected decline in profit and sales after the Bell on Tuesday’s closing bell. It also exceeded analysts’ estimates and guided higher into 2010. Read more

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Alcoa, the USA’s biggest aluminum producer, surprised Wall Street Wednesday by reporting a return to profitability in Q-3 after three consecutive quarters of losses, thanks to rising metal prices and aggressive cost-cutting. The results provided a positive start to the US corporate earnings season from a manufacturer that is closely watched as an early indicator of industrial earnings. Alcoa, reporting after markets closed in New York, was the 1st company in the DJIA to announce quarterly results for the three months to the end of September. Net income was US$77 M or 8 cents a share, down from US$268 M or 33 cents a share in the same period a year earlier but well ahead of analysts’ average expectations of a loss of about 10 cents per share. Revenue was US$4.6B, down from US$7.2B last year, but ahead of Wall Street forecasts. Read more

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Red Roadmaster’s Market Recap for the 3rd Quater – Thursday, October 1st, 2009

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US stocks ended higher Thursday as aircraft maker Boeing Co took off after it said it expects the first flight of its long-delayed 787 Dreamliner by the end of 2009, thus boosting the DJIA, + the financial shares’ put air under broad market. It was the DJIA’s 8th straight gainer day.

The DJIA rose 37.48 pts, or 0.39%, to end the session unofficially at 9,581.00, the S&P 500 gained 2.86 pts, or 0.28%, to finish unofficially at 1,030.98, and the NAS tallied up + 3.30 pts, or 0.16% to close unofficially at 2,027.73.

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