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Market Update : 
U.S. Indexes Rise Despite Record Oil
Author: 123jump.com Staff
123jump.com
Last Update: 4:48 PM EDT April 15 2008


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Crude oil closed at yet another record high even the latest OPEC report suggested a decline in demand in the second quarter. Crude oil closed near $114 a barrel. Exxon Mobil and Chevron led the gainers in the oil complex stocks but refiners Valero and Tessoro took another hit. Several regional banks including Regions Financials, U.S. Bancorp, M&T Bank, reported earnings and stake sales in recently listed credit card processor Visa.

 
Asian Markets

In Tokyo Nikkei 225 Index closed higher 73.07 or 0.57% to 12,990.58, in Hong Kong Hang Seng index increased 90.13 or 0.38% closed to 23,901.33. In Australia ASX 200 index higher 58.00 or 1.09% to close 5,400.40. In Malaysia KL Composite index increased 10.77 or 0.87% closed to 1,244.20.

In South Korea Kospi Index decreased 4.54 or 0.26% to close at 1,742.17 and Indonesia JSE Index edged increased 21.78 or 0.96% to 2,294.26. Sensex index in India increased 346.02 or 2.19% to 16,153.66. Market of Thailand was closed today.

Commodities, Metals, and Currencies

Crude oil increased $2.10 to close at $113.86 a barrel for a front month contract, natural gas increased 18 cent to $10.24 per mBtu, and gasoline futures increased 5.52 cents to close at 287.00 cents per gallon.

Gold increased $3.30 in New York trading to close at $932.00 per ounce, silver closed up $0.06 cents to $17.85 per ounce, and copper for front month delivery decreased 3.75 cents to $3.86 per pound.

Wheat futures were unchanged in Chicago trading and closed at $9.105 per bushel. Sugar increased 30.00 cent to $13.31 per pound. Soybean future closed up 7.75 cents to $13.97 a bushel.

Dollar edged higher but traded near a record low against euro to $1.5787 and edged higher against yen to 101.62.

Yields on U.S. bonds increased to 3.58% with 10 years of maturities and increased 4.42% with 30-year of maturities.
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