AS & GLOBAL :
. Indeks S&P500 menuju performa terbaik bulanan sejak dua dekade terakhir setelah menguat signifikan dalam sesi dengan volume
yang tipis terangkat oleh optimisme investor tentang kondisi ekonomi pada tahun 2011. Indeks S&P telah menguat 6,8% sepanjang
Desember. Namun, investor tengah menunggu performa saham di bulan Januari untuk melihat apakah pola naik saham]saham
memang bertahan. Indeks Dow Jones <. DJI> naik 10,52 poin atau 0,09% ke 11,586.06, indeks S&P500 <. SPX> naik 1,34 poin atau
0,11% ke 1,259.85, indeks Nasdaq <. IXIC> naik 4,05 poin atau 0,15% ke 2,666.93.
. Dollar AS mencapai titik terendah dalam kurun 7]pekan terakhir terhadap yen, dollar AS juga melemah terhadap euro seiring
pelemahan imbal hasil obligasi pemerintah AS akibat suksesnya penjualan obligasi pada Rabu 29 Desember yang kemudian
mengurangi daya tarik terhadap dollar AS. Sementara itu, naiknya performa saham global seiring ekspektasi pertumbuhan ekonomi
yang lebih kuat pada tahun 2011 juga mengangkat minat investor pada mata uang beresiko dan menekan dollar As sebagai instrumen
investasi safe haven. Dollar AS jatuh hingga 81,61 yen <JPY=EBS>, level terendah sejak 10 November, dollar tercatat melemah 1% ke
81,64 yen. Aussie dollar <AUD=D4> menguat kelevel 1,0184, level puncak sepanjang 28]tahun terakhir terhadap dollar As. Naiknya
harga komoditas akhir]akhir ini mendorong Aussie dollar dan membantu investor menghindari rasa takut akan kenaikan suku bunga
baru]baru ini China berpotensi memperlambat perekonomian.
. Euro sempat mencapai level tertinggi di 1,3240 <EUR=EBS>, sebelum ditutup naik 0,8% ke 1.3219. Para analis mengatakan reposisi
akhir tahun para investor turut mempengaruhi pergerakan harga belakangan ini. Sebagaimana yang terjadi pada yen dan Swiss franc
dimana repatriasi dan pembelian oleh korporasi membantu kinerja kedua mata uang tersebut menjelang akhir tahun. Euro tercatat
melemah 0.5% kelevel 1,2511 terhadap Swiss franc <EURCHF=EBS>, sementara dollar AS turun menjadi 0,9466 franc <CHF=EBS>.
. Emas naik ke level tertinggi dalam tiga minggu terakhir sementara perak naik menuju level tertinggi dalam 30]tahun terakhir,
ditopang volume perdagangan yang tipis dan pelemahan dollar AS. Minat beli emas meningkat menyusul pelemahan dollar AS ke level
terendah dalam tujuh minggu terakhir terhadap yen, dollar AS juga melemah terhadap sterling dan euro. Imbal hasil obligasi AS turun
menyusul lelang yang solid, mengurangi daya tarik terhadap dollar AS. Harga spot emas <XAU=> naik 0,4% menjadi 1,410.69 USD
pertroy ounce, setelah sempat naik hingga 1,413.95 USD per troy ounce.
. Harga minyak jatuh pada sesi Rabu 29 Desember, namun masih berkutat didekat level tertinggi 26]bulan terakhir. Pelemahan minyak
dipengaruhi aksi ambil untung pelaku pasar ditengah volume perdagangan yang tipis, pelaku pasar menunggu rilis data persediaan
minyak AS. Analis memperkirakan penurunan persediaan minyak mentah dalam 4]minggu berturut]turut dipengaruhi pengurangan
impor minyak oleh para refiner untuk menekan pajak akhir tahun. Minyak mentah AS untuk pengiriman Februari <CLc1> turun 37 sen
atau 0,4% dilevel 91,12 USD per barel.
title cover
Thursday, December 30, 2010
Markets close slightly higher, strong December seen
NEW YORK (Reuters) - The S&P 500 headed for its best December in nearly two decades as U.S. stocks advanced in thin trade on Wednesday, lifted by investor optimism about the economy in 2011.
The S&P has gained 6.8 percent so far this month and rose in 17 of the last 20 sessions. However, with volume among the lowest of the year because of the holidays and scarce economic news, some investors are waiting for January to see if the rising pattern holds.
"I don't want to dismiss the recent gains, but I'm not ready to draw a trend line," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "I'd like to see how the market responds when we have more participants and tangible news to sink our teeth into."
The S&P, which has already passed the level on September 12, 2008 just before Lehman Brothers collapsed, is on course for its biggest December gain since 1991 when it rose 11.2 percent.
A number of major consumer-linked shares posted solid gains on Wednesday, with McDonald's Corp (MCD.N) up 1.1 percent to $77.27 and Walt Disney Co (DIS.N) up 0.9 percent to $37.69. Both companies are Dow components.
"People are hoping that the consumer is back and that will help fuel the engine and grow some earnings, so that companies will start hiring," said Frank Ingarra, a portfolio manager at Hennessy Funds in Stamford, Connecticut.
The Dow Jones industrial average .DJI was up 10.52 points, or 0.09 percent, at 11,586.06. The Standard & Poor's 500 Index .SPX was up 1.34 points, or 0.11 percent, at 1,259.85. The Nasdaq Composite Index .IXIC was up 4.05 points, or 0.15 percent, at 2,666.93.
Advancing stocks outnumbered declining ones on the New York Stock Exchange by a ratio of almost two to one, while on the Nasdaq, about seven stocks rose for every six that fell.
"There's not much conviction behind any of the moves we've seen lately, though there is an upward bias because of window dressing," Ablin said, referring to money managers' year-end trading. "For the rest of the year we should see people trying to fill in around the edges to make their portfolios look better."
BJ's Wholesale Club Inc (BJ.N) jumped 7.1 percent to $47.63 after the New York Post reported buyout firm Leonard Green & Partners remained interested in buying the warehouse club operator and that it may launch a hostile bid.
The Morgan Stanley Retail index .MVR climbed 0.8 percent while the S&P Retail index .RLX gained 0.3 percent.
Sears Holdings Corp (SHLD.O) rose 6.4 percent to $74.49 after it said it launched an on-demand video service to compete with companies like Netflix Inc (NFLX.O).
The online movie renter's stock fell 1.9 percent to $180.27 but is up more than 200 percent this year.
Molycorp Inc (MCP.N), which owns a rare-earth mine in Mountain Pass, California, rose 6.8 percent to $49.34 after China reduced quotas for exporting the minerals, thus threatening to reduce already tight global supplies.
U.S.-listed shares of Brazilian oil firm Petrobras (PZE.N) gained 4.9 percent to $25.89 after it said its reserves could rise significantly due to two deep-water oil fields.
Noble Energy Inc (NBL.N) and its Israeli exploration partners confirmed earlier estimates that the offshore Leviathan prospect was Israel's largest natural gas find. Noble rose 2.6 percent to $87.16.
FOREX-Dollar on defensive after U.S. yields fall
* Dollar sags broadly, hits lows vs yen, Aussie
* Traders look to U.S. yields for direction in thin market
* Euro zone debt woes could come back to haunt euro
TOKYO, Dec 30 (Reuters) - The dollar weakened on Thursday, hitting a seven-week low against the yen and a 28-year low against the Australian currency after traders took falls in U.S. bond yields as a cue to sell it.
U.S. Treasuries recovered on Wednesday, pushing yields sharply lower, after a $29 billion auction of seven-year notes drew surprisingly strong demand a day after a weak five-year sale. [ID:nN29284358]
The dollar slipped to 81.40 yen JPY=, its lowest in seven weeks and edging closer to a 15-year low of 80.21 yen hit in November.
As thin trading due to the New Year's holiday tends to exaggerate currency moves, market players say there is risk of the dollar falling near the November low or even to its postwar low of 79.75 yen marked in 1995.
Data on U.S. initial jobless claims later in the day and more importantly U.S. manufacturing data due on Monday could provide the impetus to push the dollar down, they said.
Keiji Matsumoto, a strategist at Nikko Cordial Securities, also said a rise in the Chinese yuan after China's rate hike last Saturday is supporting Asian currencies, including the yen.
The yuan has risen near a record high as Chinese central bank has fixed its mid-point near the high for the past two days.
"There will be speculation that China may engineer a higher yuan ahead of Chinese President Hu Jintao's state visit to the United States next month," he said. Hu will visit Washington on Jan. 19. [ID:nTOE6BM01F]
The euro stayed near Wednesday's high, changing hands at $1.3227 EUR=, which corresponds to a 38.2 percent retracement of its fall from $1.35 to $1.3055 earlier this month.
The currency's stubborn refusal to break below the 200-day moving average, now at $1.3086, has frustrated bearish investors who think the euro-zone debt crisis could spread to Spain and Portugal in early 2011.
On the upside, it could target $1.3275-80, its high on Tuesday as well as a 50 percent retracement of that fall.
Still, traders say concerns over debt in some euro zone countries could crop up any time after many investors and policymakers come back from Christmas holidays.
Already on Wednesday, Ireland's opposition Labour Party threatened to call a vote of no confidence in the deeply unpopular government if it has not set a date for an election by the end of January.
The Australian dollar hit a fresh 28-year high of $1.1095 AUD=D4 against a broadly weakening dollar.
Rising commodity prices have boosted the Aussie and helped investors shrug off fears that a recent Chinese interest rate hike would slow China's economy and thus dampen demand for Australian exports. London Metal Exchange copper hit a record high [MET/L].
* Traders look to U.S. yields for direction in thin market
* Euro zone debt woes could come back to haunt euro
TOKYO, Dec 30 (Reuters) - The dollar weakened on Thursday, hitting a seven-week low against the yen and a 28-year low against the Australian currency after traders took falls in U.S. bond yields as a cue to sell it.
U.S. Treasuries recovered on Wednesday, pushing yields sharply lower, after a $29 billion auction of seven-year notes drew surprisingly strong demand a day after a weak five-year sale. [ID:nN29284358]
The dollar slipped to 81.40 yen JPY=, its lowest in seven weeks and edging closer to a 15-year low of 80.21 yen hit in November.
As thin trading due to the New Year's holiday tends to exaggerate currency moves, market players say there is risk of the dollar falling near the November low or even to its postwar low of 79.75 yen marked in 1995.
Data on U.S. initial jobless claims later in the day and more importantly U.S. manufacturing data due on Monday could provide the impetus to push the dollar down, they said.
Keiji Matsumoto, a strategist at Nikko Cordial Securities, also said a rise in the Chinese yuan after China's rate hike last Saturday is supporting Asian currencies, including the yen.
The yuan has risen near a record high as Chinese central bank has fixed its mid-point near the high for the past two days.
"There will be speculation that China may engineer a higher yuan ahead of Chinese President Hu Jintao's state visit to the United States next month," he said. Hu will visit Washington on Jan. 19. [ID:nTOE6BM01F]
The euro stayed near Wednesday's high, changing hands at $1.3227 EUR=, which corresponds to a 38.2 percent retracement of its fall from $1.35 to $1.3055 earlier this month.
The currency's stubborn refusal to break below the 200-day moving average, now at $1.3086, has frustrated bearish investors who think the euro-zone debt crisis could spread to Spain and Portugal in early 2011.
On the upside, it could target $1.3275-80, its high on Tuesday as well as a 50 percent retracement of that fall.
Still, traders say concerns over debt in some euro zone countries could crop up any time after many investors and policymakers come back from Christmas holidays.
Already on Wednesday, Ireland's opposition Labour Party threatened to call a vote of no confidence in the deeply unpopular government if it has not set a date for an election by the end of January.
The Australian dollar hit a fresh 28-year high of $1.1095 AUD=D4 against a broadly weakening dollar.
Rising commodity prices have boosted the Aussie and helped investors shrug off fears that a recent Chinese interest rate hike would slow China's economy and thus dampen demand for Australian exports. London Metal Exchange copper hit a record high [MET/L].
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