Thursday, February 05, 2009

Dow ....8,063.07 ....+106.41 (1.34%)
S&P 500 ...845.85 ...+13.62 (1.64%)
Nasdaq ......1,546.24 ..+31.19 (2.06%)

Crude Oil Rises on Stock Market Rally, Higher US Fuel Demand
US Economy: Jobless Claims Soar, Labor Productivity Rises
Stocks jump on relief over retail sales
Freight Index Hints AtCopper Stabilization
A pickup in the freight market offers some hope forcopper - perhaps as a sign that the metal is stabilizing forthe short term, although it’s far too early to wave rallyflags.London Metal Exchange warehouse stocks of copper haveclimbed to more than 500,000 metric tons for the first timein more than five years. That reflects a “still-burdensome”supply picture due to weak demand, said Stephen Platt,analyst with Archer Financial Services.But Platt and other analysts said signs of a revival in thefreight market suggest that shipping activity for commoditiesin general may be picking up.The Baltic Dry Index, issued by the London-based BalticExchange to assess the price of moving raw materials bysea, is on an upward trend that started 2 1/2 weeks ago.Earlier Thursday, it was up 182 points to 1,498, and hadrisen 72%, or 626 points, from 872 on Jan. 20.“It’s a positive sign,” said William Adams, analyst withBaseMetals.com.MF Global analyst Edward Meir agreed. “It shows there isa little bit of uptick in global trade for the commodities,”Meir said. “It reflected a bit more of a pickup in steel andiron ore shipments and things like that.”

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