US markets ended marginally higher on extremely low turnover session; crude rose 6.5%, gold up 3%. Dow Jones ends up 47 points at 8515.5, Nasdaq up 5.5 points at 1530.2, S&P 500 up 4.5 points at 872.80. Total shares traded on NYSE were around 50% less compared to average daily turnover; around 517 million against averaged about 1.5 billion. For the weak, Nasdaq fell about 2.3%, S&P 500 down 1.7%, Dow Jones down less than 1%. US markets ends in the red for 4th straight week. The major European markets were closed for the Boxing Day holiday. Asian market trading down nearly 1%.
Commodities
Feb crude oil rose $2.5 or 6.5% at $ $38/bbl; now trading above $39/bbl
Gold surged $22 or 2.75% at $ 871/ounce; now trading above $890/ounce
Currencies
Dollar dropped for a 4th day against the euro; down 0.8% to $1.4146 per euro
Global News
Renewed geopolotical tensions post fresh Israel strikes on Hamas targets in the Gaza Strip
Kuwait’s state-owned Petrochemical Ind cancels plans to buy 50% stake in Dow Chemicals's plastic unit for $7.5 bn
((Few chemical stocks like GHCL, Tata Chem could react))
Japanese stock market will end the year with a half day of trading on Tuesday and reopen on Jan. 5
Taiwanese regualtor to lift restrictions on short-selling of 150 stocks from Jan. 5
Big Global News Last Week
General Motors ends down 18% last week; debt was cut deeper into junk
Median resale price of single-family houses dropped 13% last month, the most since records began in 1968
US economy contracted by 0.5% in 3Q
US Consumer spending fell the most in almost three decades
Initial jobless claims rose to 586,000, the most since November 1982
Monday, December 29, 2008
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