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Market Update : 
Records in Dollar and Oil, Yahoo Falls
Author: 123jump.com Staff
123jump.com
Last Update: 5:41 PM EDT April 22 2008


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U.S. stocks fell in the final hours of trading on rising oil and falling dollar. Crude oil jumped above $119 in the session on Nigerian oil supply disruption. The dollar fell agaist euro on talks of firm interest rates in Europ. The euro rose above $1.60 to a dollar. Gold rebounded to $925 per ounce. Yahoo after the market hours reported its quarterly net income jumped to 37 cents from 10 cents a year ago on Alibaba.com stake sale.

 
Asian Markets

In Tokyo Nikkei 225 Index closed higher 220.10 or 1.63% to 13,696.55, in Hong Kong Hang Seng index increased 523.89 or 2.17% closed to 24,721.67. In Australia ASX 200 index higher 170.60 or 3.14% to close 5,600.30. In Malaysia KL Composite index increased 12.35 or 0.97% closed to 1,280.00.

In South Korea Kospi Index increased 28.58 or 1.61% to close at 1,800.48, in Thailand SET index closed lower 3.42 or 0.40% to 841.98 and Indonesia JSE Index edged decreased 13.38 or 0.57% to 2,335.89. Sensex index in India increased 258.13 or 1.57% to 16,739.33.

Commodities, Metals, and Currencies

Crude oil increased $0.87 to close at $117.56 a barrel for a front month contract, natural gas decreased 18 cent to $10.55 per mBtu, and gasoline futures increased 3.75 cents to close at 301.00 cents per gallon.

Gold increased $7.60 in New York trading to close at $925.20 per ounce, silver closed up $0.35 cents to $17.824 per ounce, and copper for front month delivery increased 9.20 cents to $3.958 per pound.

Wheat futures increased 6.5 cents in Chicago trading and closed at $8.66 per bushel. Sugar increased 36 cent to $12.95 per pound. Soybean future closed up 18.40 cents to $13.89 a bushel.

Dollar edged lower and traded at a record low against euro to $1.5992 and edged lower against yen to 103.03.

Yields on U.S. bonds decreased to 3.69% with 10 years of maturities and decreased 4.44% with 30-year of maturities.
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