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Market Update : 
Oil Up $2, Techs Down, Financials Rally
Author: 123jump.com Staff
123jump.com
Last Update: 5:27 PM EDT April 25 2008


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U.S.stocks traded in a tight range after a hectic day of earnings. Microsoft earnings declined and issued a cautious guidance for the rest of the year. American Express earnings and revenue declined but international markets showed healthy gains. Energy producers rose after oil and commodities rebounded. Dollar traded firm against euro and pound.

 
Brazil led gainers in the region with a rise of 0.95% followed by increases in Venezuela of 0.74% and in Colombia of 0.46%.

Asian Markets

In Tokyo Nikkei 225 Index closed higher 322.60 or 2.38% to 13,863.47, in Hong Kong Hang Seng index decreased 164.54 or 0.64% closed to 25,516.78. In Australia ASX 200 index closed lower on Thursday by 65.60 or 1.16% to close 5,587.30. In Malaysia KL Composite index decreased 5.00 or 0.39% closed to 1,288.08.

In South Korea Kospi Index increased 25.34 or 1.41% to close at 1,824.68, in Thailand SET index closed lower 1.90 or 0.32% to 598.33 and Indonesia JSE Index edged lower 29.40 or 1.30% to 2,240.98. Sensex index in India increased 404.90 or 2.42% to 17,125.98.

Commodities, Metals, and Currencies

Crude oil increased $2.57 to close at $118.63 a barrel for a front month contract, natural gas increased 17 cent to $10.96 per mBtu, and gasoline futures increased 3.19 cents to close at 305.05 cents per gallon.

Gold increased $0.30 in New York trading to close at $889.70 per ounce, silver closed up $0.19 cents to $16.78 per ounce, and copper for front month delivery decreased 2.55 cents to $3.87 per pound.

Wheat futures decreased 8.50 cents in Chicago trading and closed at $8.15 per bushel. Sugar decreased 4 cent to $12.25 per pound. Soybean future closed down 24.00 cents to $13.37 a bushel.

Dollar edged higher but traded near record low against euro to $1.5594 and edged higher against yen to 104.45.

Yields on U.S. bonds increased to 3.86% with 10 years of maturities and decreased 4.59% with 30-year of maturities.
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