A weekly review of the markets, supplied and sponsored by Spreadex.
For this week's review see Spread Betting Weekly.
Weekly Market Review: 14 Dec 2009
Indices
A bailout for Dubai got this week off to a strong start and carried on what was a mostly strong week for equities.
The Dow futures touched a new high for the year this morning at 10570, after adding 0.8% last week, closing on Friday at 10475.
The S&P 500 finished almost unchanged at 1106.4, trading in a range between 1110 and 1090. The FTSE 100 finished down a fraction at 5261, 5330 again proving a strong barrier.
Commodities
Crude oil futures fell on Friday for an eighth straight session, the longest losing streak in more than six years. This came after better-than-expected US retail sales and consumer sentiment data boosted the Dollar and weighed on commodities.
Crude ended the week down 7.4% at $69.87, the biggest weekly loss in 11 weeks.
Gold also took a tumble, sliding 4% on the week to $1119.4.
Forex
The Dollar advanced versus the Euro, Yen and other major currencies on Friday, pushing it to the highest in two months, after a marked uptick in consumer sentiment bolstered expectations of a US economic recovery.
The Dollar gained more than 1% on the Yen, at ¥89.23, 1.6% on the Euro at $1.4620 and 1.2% against Sterling at $1.6248. Sterling gained a fraction on the Euro, closing the week at €1.1119.
The Week Ahead
Economic announcements come thick and fast this week with a slew of numbers coming out.
On Tuesday we have UK and US Industrial Production numbers and US PPI, Wednesday has a US Fed rate announcement and CPI numbers, Thursday has UK retail sales and US Jobless Claims.
Highlights of the week on the earnings front are Adobe and Oracle, JJB Sports, Punch Taverns and Arriva.
The above comments do not constitute investment advice and neither Spreadex nor Clean Financial accept any responsibility for any use that may be made of them.
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'Crude Oil Futures Continue to Fall' edited by DB, updated 14-Dec-09
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