U.S. Stocks, Commodities Close Up; Apple Shines

Mukesh Buch
24 Dec, 2009
New York City

Markets around the world edged higher in light trading ahead of holiday period in Europe and Americas. U.S. stocks closed up in a short trading session on a rise in durable goods orders. Asian markets lead the world markets gains for the year. Apple Inc gains more than 3% on tablet rumors.

[R]2:30 PM New York, 7:30 PM London, 6:30 AM Sydney – Markets around the world edged higher in light trading ahead of holiday period in Europe and Americas. U.S. stocks closed up in a short trading session on a rise in durable goods orders. Asian markets lead the world markets gains for the year.[/R]

Natural resource stocks gain in New York trading on a rise in copper and gold prices. Health insurers declined after the Senate passed its version of healthcare bill. Crane Co acquires the electronics components maker for $52 million Merrimac Industries, Inc.

The UK benchmark index added to the gains of the year with 22% rise so far and 53% from its lows in March. Miners led the gainers today with copper, nickel and gold prices edging higher. Balfour Beatty to acquire Strata Construction for £10.3 million.

European markets closed up but continental markets were mostly closed. Markets in France and UK closed near 15 month high.

Alcatel-Lucent selected by Kyivstar GSM for All-IP network transformation in Ukraine. The U.S. drug regulator FDA licenses Sanofi-Aventis subsidiary's new influenza vaccine. The benchmark indexes in Paris and London closed near 15 month high and other markets in Europe were closed.

Foreign direct investment in India gained in November and portfolio investment in the year approached record 2007 flows. Initial public offerings raised $16 billion, trailing only China. Industrial production in key six industries increased 5.3% in the previous month from a year ago.

North American Markets

Dow Jones Industrial Average increased 1.51 or 0.01% to a close of 10,466.44, S&P 500 Index edged higher 2.57 or 0.2% to 1,120.59, and Nasdaq Composite Index increased 16.97 or 0.8% to close at 2,269.64. Toronto TSX Composite Index added 30.72 or 0.3% to 11,658.70.

Latin American Markets Indexes

Mexico Bolsa Index increased 209.91 or 0.7% to 32,450.23 and Brazil Bovespa Stock Index added 170.93 or 0.3% to 67,588.86.

Europe Markets Review

In London FTSE 100 Index closed higher 30.03 or 0.56% to 5,402.41, in Paris CAC 40 Index increased 1.98 or 0.05% to close at 3,912.73. Markets in Germany, Switzerland, Italy and Sweden were closed.

Asian Markets Review

The Nikkei 225 Index in Tokyo closed higher 158.89 or 1.53% to 10,536.92, and Hang Seng index in Hong Kong increased 188.26 or 0.88% to 21,517.00, and CSI 300 index in China higher 102.34 or 3.07% to 3,438.82. ASX 200 index in Australia increased 51.60 or 1.09% to 4,790.90. The FTSE Bursa KL Composite index in Malaysia was higher 3.41 or 0.27% to 1,263.94.

The Kospi Index in South Korea increased 20.99 or 1.26% to close at 1,682.34. SET index in Thailand closed lower 2.59 or 0.35% to 727.21. The Sensex index in India increased 129.50 or 0.75% to 17,360.61. Markets in Indonesia were closed today.

Commodities, Metals, and Currencies

Crude oil increased $1.38 to $78.05 a barrel for a front month contract, natural gas edged down 18 cents to $5.64 per mBtu and gasoline increased 1.54 cents to 198.20 cents.

Soybean future closed down 1.00 cents to $10.08 a bushel. Wheat futures closed down 4.50 cents in Chicago trading to $5.24 a bushel. Sugar closed up 28 cents at 27.08 cents.

Gold increased $12.60 in New York trading to close at $1,106.60 per ounce, silver closed up $0.33 to $17.52 per ounce and copper for the front month delivery increased 9.05 cent to $3.294 per pound.

Dollar closed lower against euro to $1.4356 and edged lower against the Japanese yen to 91.46.

Yield on 10-year U.S. bonds increased to 3.80% and with 30-year maturities closed higher at 4.60%.