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The S&P/ASX 200 ended day higher by 32 points to 4,529.90.
The CPI figures came out yesterday, which showed inflation increased 0.6% for the June quarter, and 3.1% since June 2009. However, it's now 'predicted' that the RBA will keep rates on hold when they meet Tuesday next week.
The Dow Jones Industrial Average closed at 10,497.88, lower by 39 points. The Dow slumped on the Fed's economic outlook as the Federal Reserve's Beige Book reported a slowdown of growth in four of the twelve regional districts. Adding to the disappointment, were the lackluster durable goods figures, which dropped 1%.
The FTSE was 45 points lower ending the session at 5,319.68. The banking sector dragged the index down as many investors took profits from yesterday's gains.
The market also reacted badly to comments from Mervyn King, Governor of the Bank of England (BoE). King warned that a sustained recovery for the UK was uncertain, even though there had been a recent increase in output.
'The wider economic problems around the world underline the fact that we cannot be confident that the recovery in demand, output and employment here in the UK will be sustainable.' He said.
The Nikkei jumped 256 points higher to end the session at 9,753.27.
The price of spot gold in Australian dollars is $1,302.93, while in US dollars it's $1,164.58. The price of silver in Australian dollars is $19.59 and in US dollars it's $17.51.
The Aussie dollar lost nearly USD 0.75 cents after the CPI figures were released.
The Aussie dollar versus US dollar is AUDUSD 0.8926 and against the Japanese Yen it's AUDJPY 78.06.
Crude Oil closed at USD$76.85.
For the biggest movers on the market yesterday click here...
That's all I have for you this morning, see you tomorrow.
Shae Smith.
[Please note: neither the authors nor any of the employees of Port Phillip Publishing own shares in any of the stocks discussed in Money Morning unless specifically stated. The articles do not give trading or personal investment advice, but are intended to provide a useful, independent news and analysis service to supplement your own investing and trading. Consult your financial advisor before making any investment decisions.]
52-Week Highs and Lows
Number of companies reaching a 52 week high previous day: 20
Number of companies reaching a 52 week low previous day: 8
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