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Inside Markets

Inside Markets

Switzer Daily
19 June 2009

US stocks returned to the positive on Wednesday on the back of better-than-expected readings on housing and manufacturing.

The Dow Jones rose 153 points, or 2%, to 7761.6.
 
The Nasdaq added 23 points, or 1.5%.
 
The S&P 500 index gained 13 points, or 1.7%, to 811.08
 
Early trading saw stocks fall after the release of a poor jobs report and talk that car makers will be forced to declare bankruptcy to restructure. As the day wore on, selling pressure eased with financials moving higher.
The Dow touched 12-year lows at the start of March, but finished up 7.7% during the month, mainly from optimism that the economy is getting closer to stabilising.
All eyes will be on the G20 meeting in London this week, which brings together leaders from the world's largest economies.  Investors will want to see the announcement of a bigger global economic stimulus effort.
 
President Obama is also expected to release details of new financial regulations designed to prevent another financial meltdown.
The Oz dollar is up to 69.89 US cents.
 
Have a great day,
 

Peter 

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