Finance News Network

James Gerrish - Morning Note

Posted By :James Gerrish on:30/07/2010 9:43:00 AM

FTSE 100, DOW, Commodity Index, AUD, EUR, Dollar index

30/7/10 - 8.37am - by James Gerrish

We've been speaking about the demand for risk assets over the last few weeks as investors look to reduce defensive exposure in favor of growth orientated assets. To me this is a clear theme thats playing out and it was once again obvious overnight. The Euro was higher, the US Dollar was lower and the commodity index broke out from resistance

We also saw the Aussie Dollar bounce from support.

On the Market the DOW JONES lost -30.72 points or -0.29% to close at 10467. It was a roller coaster ride with buying early on the back of a better than expected results from Exxon and some initial reports that painted a favorable picture on employment. This gain was stripped away when Colgate missed the mark as did a number of tech stocks. We did see the market rise +80 points from the low towards the end of trade which was another positive sign of buying into weakness or some may call it consolidation of recent gains.

The FTSE 100 lost -5 points or -0.11% to 5313. Locally, SPI Futures were matching down 17 points.

About Me

James Gerrish

Adviser
Equities/Derivatives

Novus Capital Limited

James Gerrish is a Client Adviser with Novus Capital. He presents 'Stockwatch' for the Finance News Network each Monday Morning, is a regular on 'Lunch Money' each Tuesday for Sky Business and contributes to other industry publications.

James has been advising clients for the past 5 years. He holds a Bachelor of Management (Accounting), is RG 146 compliant in Securities, Derivatives & Margin Lending and is an Accredited Derivatives Adviser.

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