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Inside Markets

Inside Markets

Switzer Daily
22 June 2009

There were mixed results on the US markets with technology shares bringing the S&P 500 and Nasdaq to stronger closes with some positive broker comments about Microsoft.

The Dow fell 0.19% or 15.87 points to 8539.73. 

The Nasdaq put on 1.09% or 19.75 points to 1827.47.

The S&P 500 was up 0.31% or 2.86 points to 921.23.

Some experts see the S&P declining as far as 850.

Reports on the US housing sector are released this week, and readings have been saying home sales and construction have bottomed.

The Federal Reserve are also meeting this week to set interest rates and release other data so be prepared for a smattering of earnings and economic reports later in the week. This will include March quarter GDP.

Back home, we get car sales figures today. There were 75,441 cars sold during May, which was 15% down on a year ago. Craig James says while that looks like a big drop, it’s up on April when sales were down 24%. Private car purchases remain quiet, but sales to businesses have been increasing, and this is due to government grants to small and medium sized businesses.

The Oz dollar was up a little at 80.54 US cents. Oil is at 69.8 US dollars a barrel.

Have a great day,
 

Peter 

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