Pre-Market Report – Friday 16 August: US rally continues, SPI up 77

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28d ago 13:10

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Stocks rallied on Thursday as investors regained confidence in the economy following encouraging consumer and labor data that helped ease recession worries.
The Dow Jones Industrial Average leaped 554 points, or 1.39%, to end the day at 40,563.06. The S&P 500 closed up 1.61% at 5,543.22, for its sixth straight gain. The broad market index has advanced roughly 8% from its intraday bottom on Aug. 5. The Nasdaq Composite jumped 2.34% to 17,594.50.
COMMODITES

Oil rises nearly 2% on upbeat US economic data, geopolitical tension.
Gold pares gains as dollar, bond yields climb after strong US data.
Iron ore hits over 14-mth low as weak China property data clouds demand outlook.
BHP strike in Chile enters third day, buoying global copper price.

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