Digital News Report – The Dow Jones Industrial Average (DJIA) advanced late Friday to close up 25.43 points (+0.22%) to 11,796.16 (see chart below). The broader S&P 500 dropped just 0.04 percent while the tech-heavy Nasdaq dropped 0.60 percent.
Uncertainty in Europe help drive down stock prices while driving up gold and silver prices. Equity futures are slipping as Washington lawmakers fail to reach an agreement this weekend. It is unlikely the congressional joint SuperCommittee will provide any results by this week’s deadline.
In Europe the CAC-40 (France) closed down 4.84 percent while the FTSE (England) and the DAX (Germany) closed down 3.29 percent and 4.24 percent respectively.
Gold gained on Friday, but has since fallen. The golden metal was up $4.90 (+0.28%) to $1,725.10 a troy ounce. Officials in Indonesia said the union has reached an agreement with Newmont Mining Corp ending a strike at one of the world’s largest mines. The workers are already back to work.
Silver prices were also higher Friday. December silver on the COMEX gained 92 cents (+2.92%) to $32.42 an ounce.
Light sweet crude oil on the New York Mercantile Exchange (NYMEX) fell $1.15 (-1.16%) to $97.67 a barrel. Since the settle WTI is lower again. Brent Crude oil on the Intercontinental Exchange (ICE) fell sharply, down $4.32 (-3.86%) to $107.56. A weak economic outlook in Europe could be the culprit for lower prices.
Gasoline was also lower, down 1.14 percent.
Early Monday the euro is gaining on the dollar while the US currency is slipping versus the Japanese yen. The EUR/USD hit 1.3530 and the USD/JPY hit 76.9000.
By: Tim Edwards
| 11/18/2011 | Index or Commodity | 1 Day | 1 Day (%) | 1 Week | 1-Month |
| 11,796.16 | Dow Jones Industrial | 25.43 | 0.22% | -2.94% | 3.17% |
| 1,215.65 | S&P 500 | -0.48 | -0.04% | -3.81% | 1.74% |
| 2,572.50 | Nasdaq Comp Index | -15.49 | -0.60% | -3.97% | 0.25% |
| 5,362.94 | FTSE 100 England | -60.20 | -1.11% | -3.29% | -0.67% |
| 2,997.01 | CAC 40 France | -13.28 | -0.44% | -4.84% | -5.20% |
| 5,800.24 | DAX Germany | -49.93 | -0.85% | -4.24% | -0.80% |
| 2,415.85 | Shanghai Comp China | -46.32 | -1.88% | -2.60% | 3.02% |
| 8,374.91 | Nikkei 225 Tokyo Japan | -104.72 | -1.23% | -1.64% | -2.68% |
| 18,491.23 | Hang Seng Hong Kong | -326.24 | -1.73% | -3.38% | 4.40% |
| 1725.10 | Gold GC – COMEX | 4.90 | 0.28% | -3.52% | 3.25% |
| 32.42 | Silver SI – COMEX | 0.92 | 2.92% | -6.53% | 1.37% |
| 97.67 | Crude oil (WTI) -NY | -1.15 | -1.16% | -1.33% | 14.35% |
| 107.56 | Brent crude – ICE | -4.32 | -3.86% | -5.78% | -1.28% |
| 2.48 | Gasoline – NYMEX | -0.03 | -1.14% | -4.82% | -8.05% |
Currencies and Treasuries:
| Currency Exchange Rates | ||
| EUR/USD | 1.353 | +0.0066 (0.49%) |
| USD/JPY | 76.9 | -0.1000 (-0.13%) |
| GBP/USD | 1.5795 | +0.0038 (0.24%) |
| USD/CAD | 1.0272 | -0.0019 (-0.18%) |
| USD/HKD | 7.7885 | +0.0009 (0.01%) |
| USD/CNY | 6.3565 | +0.0060 (0.09%) |
| AUD/USD | 1.0009 | +0.0016 (0.16%) |
| Bonds | ||
| 3 Month | 0.01% | 0.00 (0.00%) |
| 6 Month | 0.03% | +0.02 (200.00%) |
| 2 Year | 0.27% | +0.01 (3.85%) |
| 5 Year | 0.91% | +0.02 (2.25%) |
| 10 Year | 2.00% | +0.02 (1.01%) |
| 30 Year | 2.99% | -0.01 (-0.33%) |