MARKET TALK: S&P/ASX 200 Offshore Leads Flat; SPI Down 0.2%

15th Jul 2010 00:56

2356 GMT [Dow Jones] S&P/ASX 200 offshore leads flat, though overnight SPI 200 futures down 0.2% at 4425.0 on further signs of U.S. economic weakness. DJIA down 0.1% at 10359.31, S&P 500 up 0.1% to 1096.48, Nasdaq flat at 2249.08. After the close, Goldman Sachs reached settlement with SEC. But Google is down 4.0% after missing EPS expectations in 2Q. In regular trading, JPMorgan profit rose 76% to US$1.09/share, as loan reserves fell, but revenue fell in 4 of 6 business lines and JPM warned of possible "unintended consequences" to the banks' business from financial regulatory reforms. Philadelphia Fed's July business activity index missed expectations, NY fed's Empire State July business conditions index fell to 5.1 vs 18.5 expected, June PPI fell 0.5% vs 0.2% fall expected. Weekly initial jobless claims fell 29,000 vs 9,000 expected. Wall Street bounced in the last 30 minutes, because BP plugged the Gulf of Mexico oil leak and the market anticipated the GS/SEC settlement. S&P 500 Financials down 0.1%, with KBW Bank index down 0.5%, though GS rose 4.4%. S&P 500 Materials down 0.1%, with Alcoa down 0.6%, Vale down 1.3%, Freeport down 0.8%, US Steel down 0.9%, Barrick up 0.2%. BHP Billiton (BHP.AU) ADRs at equivalent A$38.26 (based on AUD/USD at 0.8822) vs local close at A$38.13. London listed BHP down 1.2%, Rio (RIO.AU) down 3.3%. S&P 500 Energy flat, with BP up 7.6%. S&P 500 Industrials up 0.2%. S&P 500 Consumer Discretionary up 0.3%. Nymex crude down 0.6% at US$76.62. Spot gold at US$1,208.00 vs US$1,208.15 this time yesterday. EUR/USD at 1.2933 vs 1.2743. AUD/USD at 0.8814 vs 0.8838. LME copper down 0.7%, zinc down 2.1%, aluminum up 0.3%, nickel flat. S&P/ASX 200 last 4442.6. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires July 15, 2010 19:56 ET (23:56 GMT)