MARKET TALK: S&P/ASX 200 Offshore Leads Mixed; IBM Down 4%

19th Jul 2010 00:18

2318 GMT [Dow Jones] S&P/ASX 200 offshore leads mixed, with overnight SPI 200 futures down 3 points, or 0.1%, at 4325.0 despite modest recovery on Wall Street amid earnings optimism. DJIA up 0.6% to 10154.43, S&P 500 up 0.6% to 1071.25, Nasdaq up 0.9% to 2198.23. NYSE gains beat declines 2 to 1 but volume was extremely light. After the bell, IBM down 4.0% and Texas Instruments down 5.1% on disappointing revenue. In Europe, Moody's downgraded Ireland, but FTSE 100 fell just 0.2%. On Wall Street, U.S. NAHB home builder confidence fell to 14 in July vs 16 expected. Hasbro and Delta Airlines earnings disappointed the market but Boeing surged on plane orders and Halliburton earnings easily beat earnings expectations. S&P 500 Financials were flat, though BofA fell 2.6%. S&P 500 Materials up 0.2%, with Alcoa up 1.6%, Vale up 1.7%, Freeport up 1.3%, US Steel down 0.3%, Barrick Gold down 1.4%. BHP Billiton (BHP.AU) ADRs at equivalent A$38.03 (based on AUD/USD at 0.8684) vs local close at A$37.75. London listed BHP up 0.3%, Rio (RIO.AU) up 1.5%. S&P 500 Energy up 1.0%, with Halliburton up 6.0%. S&P 500 Industrials up 0.6%, with Boeing up 2.1%. S&P 500 Consumer Discretionary up 0.9%. Nymex crude down 0.7% at US$76.54. Spot gold at US$1,183.70 vs US$1,192.10 this time Monday. EUR/USD at 1.2942 vs 1.2919. AUD/USD at 0.8684 vs 0.8660. LME copper up 0.4%, zinc up 0.7%, aluminum down 0.3%, nickel down 0.8%. S&P/ASX 200 last 4358.3. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires July 19, 2010 19:18 ET (23:18 GMT)