MARKET TALK: S&P/ASX 200 Leads Mostly Bearish; SPI Down 1.3%

24th Jun 2010 00:39

2339 GMT [Dow Jones] S&P/ASX 200 offshore leads mostly bearish, with overnight SPI 200 futures down 59 points, or 1.3%, at 4428.0 as Wall Street was hit by uncertainty over the financial overhaul bill and disappointing earnings from Bed Bath & Beyond and Nike. DJIA down 1.4% at 10152.80, S&P 500 down 1.7% at 1073.69, Nasdaq down 1.6% at 2217.42. U.S. May durable goods fell 1.1% vs 1.5% expected. Excluding transportation, durable goods rose 0.9%. Weekly initial jobless claims fell to 457,000 vs 465,000 expected. On the Nasdaq, News Corp. (owner of this news wire) fell 4.9%, while Dell fell 6.4% on cautionary comments about Europe. S&P 500 Financials down 1.8%, with KBW Bank index down 2.2% as lawmakers worked to finalize financial-overhaul legislation that may tighten industry regulations more than first expected. S&P 500 Industrials down 1.8%, Caterpillar down 1.5%. S&P 500 Consumer Discretionary down 2.5%, with Home Depot down 2.7% and Lowe's down 2.8% on broker downgrades. Macy's fell 6.2%, Nike was down 4.0%. S&P 500 Materials down 2.4%, with Alcoa down 2.8%, Freeport down 2.5%, U.S. Steel down 3.5%. BHP Billiton (BHP.AU) ADRs at equivalent A$39.22 (based on AUD/USD at 0.8666) vs Tuesday's local close at A$39.65. London Listed BHP down 1.6%, Rio (RIO.AU) down 3.2%. S&P 500 Energy down 2.7%, with Anadarko down 5.2% on shareholder lawsuit. Nymex crude up 16 cents at US$76.51. LME copper up 2.7%, zinc up 2.5%, aluminum up 1.2%, nickel up 0.8%. Spot gold at US$1,243.50 vs US$1,234.20 this time Thursday. EUR/USD at 1.2334 vs 1.2409. AUD/USD at 0.8728 vs 0.8796. S&P/ASX 200 last 4479.7. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 24, 2010 19:39 ET (23:39 GMT)