Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

UPDATE 1-New Zealand/Australia Morning Call-Global markets

Published 07/03/2016, 07:54 am
Updated 07/03/2016, 08:00 am
© Reuters.  UPDATE 1-New Zealand/Australia Morning Call-Global markets
UK100
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XAU/USD
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US500
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DJI
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AXJO
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JP225
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HK50
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DX
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GC
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HG
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LCO
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US3YT=X
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US5YT=X
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US7YT=X
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DXY
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(Add Australian stock market trend) Snapshot at: 07:52 / 2052 GMT ---------------------------------------------------------------- Stock Markets

NetChng

NetChng S&P/ASX 200

5,090.03 +8.91 NZSX 50

6,418.1 +37.3 DJIA

17,006.77 +62.87 Nikkei

17,014.78 +54.62 NASDAQ

4,717.02 +9.60 FTSE

6,199.43 +68.97 S&P 500

1,999.99 +6.59 Hang Seng

20,176.70 +234.94 SPI 200 Fut

5,121.00 +36.00 STI

2,837.00 +49.38 SSEC

2,874.06 +14.30 ---------------------------------------------------------------- Bonds

NetChg

NetChg AU 10 YR Bond

2.584 +0.027 US 10 YR Bond

1.876 +0.000 NZ 10 YR Bond

3.070 +0.000 US 30 YR Bond

2.696 +0.000 ---------------------------------------------------------------- Currencies

1700GMT

1700GMT AUD US$

0.7404 0.7363 NZD US$

0.6791 0.6751 EUR US$

1.0991 1.0945 Yen US$

113.96 113.89 ---------------------------------------------------------------- Commodities Gold (Lon)

1,277.50

Silver (Lon)

15.49 Gold (NY)

1,258.71

Light Crude

35.92 TRJCRB Index

168.55 +3.51 ---------------------------------------------------------------- Overnight market action with latest New York figures.

EQUITIES

NEW YORK - Wall Street ended higher on Friday after employment data allayed investors' concerns about a sluggish economy without bolstering fears of an imminent interest rate hike.

The Dow Jones industrial average .DJI rose 0.37 percent, to end at 17,006.77 points. The S&P 500 .SPX gained 0.33 percent to 1,999.99, closing above its 100-day moving average for the first time this year.

For a full report, double click on .N

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LONDON - Britain's mining index climbed to a four-month high on Friday, boosted by a rally in the prices of major industrial metals.

The advance by mining shares helped the blue-chip FTSE 100 .FTSE to close 1.1 percent higher at 6,199.43 points, outperforming the broader European market

For a full report, double click on .L

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TOKYO - Japanese stocks rose on Friday in choppy trade, but gains were limited as investors cautiously waited on a key U.S. jobs report after unexpected signs of unemployment rising in the service sector.

The Nikkei share average .N225 ended 0.3 percent higher at 17,014.78 after trading in negative territory. The index rose for a fourth day, the longest winning streak since November 2015.

For a full report, double click on .T

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SYDNEY - Australian stocks are set for a strong start on Monday, after upbeat U.S. jobs data and a rally in commodity prices bolstered risk appetite.

Pointing to a firm open, stock index futures YAPcm1 rose 0.7 percent to 5,121, a 31.0-point discount to the close of the underlying S&P/ASX 200 index .AXJO on Friday. The benchmark jumped 4.3 percent last week, its largest such gain since October.

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FOREIGN EXCHANGE

NEW YORK - The U.S. dollar fell, hitting one-week lows against the euro on Friday after a drop in U.S. wages in February overshadowed strong jobs growth and supported views that the Federal Reserve was in no hurry to hike interest rates.

The dollar index, which measures the greenback against a basket of six major rivals, hit a nearly two-week low of 97.019 .DXY . The dollar reversed losses against the safe-haven yen in afternoon trading and hit a session high of 114.25 yen, however, a move analysts attributed to greater risk appetite.

For a full report, double click on USD/

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TREASURIES

NEW YORK - U.S. Treasury prices tumbled on Friday after data showed a surge in jobs growth in February, but gains in yields were limited by weak wages data and continued safety bids.

Yields initially soared with the three-year US3YT=RR , five-year US5YT=RR and seven-year US7YT=RR note yields jumping to their highest levels in about a month.

For a full report, double click on US/

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COMMODITIES

GOLD

NEW YORK - Gold prices were flat on Friday, late in a seesaw session that took prices to a 13-month high twice on technical and underlying investment demand, with a sharp drop in between due to forecast-beating U.S. payrolls data.

Strong investor interest continued to underpin gold prices even after the payrolls data. Spot gold XAU= was down 0.2 percent at $1,260.80 an ounce at 3:19 p.m. EST (2019 GMT), after falling 1.1 percent to $1,249.90.

For a full report, double click on GOL/

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BASE METALS

LONDON - Copper prices climbed to their highest in four months on Friday after U.S. data showed strong jobs growth combined with low wages, lessening the threat of a early interest rate rise.

Benchmark copper CMCU3 on the London Metal Exchange surged 3.5 percent to close at $5,027 a tonne after touching $5,059, its highest since Nov. 5. It scored a weekly gain of nearly 7 percent, the most since December 2011.

For a full report, double click on MET/L

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OIL

NEW YORK - Oil jumped on Friday, settling 4 percent higher as strong U.S. jobs data and technical factors encouraged buying that revived this week's rally after a one-day pause.

Brent futures LCOc1 , the global benchmark for crude, settled up $1.65, or 4.5 percent, at $38.72 a barrel.

For a full report, double click on O/R

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