Pre-market Update, Thursday, April 09, 2009
Markets on Wednesday were bouyed by news that the Treasury is planning to extend bailout funds to insurers. Sellers threatened to drag stocks lower for the third straight session, but buyers showed resolve and eventually pushed all major indices higher. The Dow closed 47.55 points up (+0.61%) to end the day at 7,837.11. The index fell as it opened, but then continued to make rapid gains through the day. The NASDAQ closed 29.05 points higher (+1.86%) to finish at 1,590.66.
It was a good day for the Indian ADRs with majority seeing at least some gains. HDFC Bank (HDB) was the biggest gainer, up 1.39% closing at $65.12. Satyam Computers (SAY) was the biggest loser, down 0.10%, closing at $2.45.
German car makers managed to push the DAX up, thanks to some good news overall and positive feelers from analysts, though the FTSE more or less closed flat. The UK’s FTSE closed 5.00 points down (-0.13%), ending at 3,926. Germany’s DAX closed 35.42 points up (+0.82%), ending trading at 4,358.
As of 10:36 am IST, Asian markets were seeing some good gains. Japan’s Nikkei is currently trading 291.42 points higher, up 3.39%, while the Hang Seng is currently up 333.92 points (+2.31%).
WTI Brent crude oil closed at $50.26 per barrel, up $0.88 (+1.78%). Nymex light crude May futures closed at $50.34, up $0.96 (+1.94%). June COMEX gold futures fell $0.80 (-0.09%) to close at $885.10 per ounce.
As of 10:42 am IST, the Yen (¥) fell against the USD, by ¥0.30 to ¥100.01. The Euro (€) fell €0.0005 to €0.7537 against the dollar. The Pound (£) rose £0.0007 to £0.679 against the dollar.
The Indian Rupee (Rs.) closed on Wednesday at 50.1750/1950 against the greenback.
Tags: Asian Equities, Comex Gold, Commodities, Currencies, DAX, DJIA, Dow, Euro, European equities, FTSE, Hang Seng, International Markets, NASDAQ, Nikkei, Nymex Crude, NYSE, Pre-market summary, Rupee, Rupee/USD, US equities, USD, USD/Euro, USD/JPY, WTI Brent Crude, Yen
