A.M. market numbers: October 28, 2009

| North American markets | International markets | Bonds | Currency | Commodities |

Global stock markets dropped Wednesday as more signs American consumers were struggling undermined hopes for a stronger turnaround in the world’s largest economy.

Major Asian markets fell by about 1.5 per cent or more, with European shares shedding about 1 per cent in early trade. Oil prices dropped below $79 a barrel, while the dollar weakened against the yen.

The losses followed another choppy session on Wall Street, where an unexpected drop in consumer confidence gave investors few reasons to venture further into a market that’s run massively higher in the last eight months.

The news was the latest evidence that U.S. shoppers, their budgets tightened by the economic crisis and rising unemployment, aren’t likely to return to their spendthrift ways anytime soon. It was all the more unsettling in Asia, coming ahead of the vital Christmas holiday season, when major export companies rely heavily on Americans to increase their spending on electronics, toys and other goods.

“The figure sparked worries that U.S. consumer spending in the crucial Christmas season will be stagnant. Investors are now bracing for very weak retail sales in the upcoming season,” said Masatoshi Sato, market analyst at Mizuho Investors Securities Co. Ltd. in Tokyo.

As trading opened in Europe, Britain’s FTSE 100 fell 1.1 per cent, Germany’s DAX was off 0.8 per cent and France’s CAC-40 shed 1 per cent.

In Japan, the benchmark Nikkei 225 index lost 137.41 points, or 1.4 per cent, to 10,075.055. Hong Kong’s main index retreated 408.01, or 1.8 per cent, to 21,761.58.

Elsewhere, South Korea’s Kospi dived 2.4 per cent, to 1,609.71, leading the declines in Asia. Australia’s market fell 1.4 per cent, Taiwan’s market lost 1.6 per cent and India’s Sensex benchmark fell 0.6 per cent.

China’s Shanghai index recouped its losses to close up 0.3 per cent,

Among stocks, the Hong Kong shares of U.S. casino giant Wynn Resorts Ltd. plummeted more than 7 per cent after the company said net income fell in the last quarter amid a weak market in Las Vegas.

In the U.S. overnight, stocks ended a volatile session mostly lower as worries about U.S. consumers overshadowed evidence that home prices were starting to recover.

The Dow rose 14.21, or 0.1 per cent, to 9,882.17. The broader Standard&Poor’s 500 index fell 3.54, or 0.3 per cent, to 1,063.41, while Nasdaq fell 25.76, or 1.2 per cent, to 2,116.09.

U.S. futures pointed to more losses on Wall Street. Dow futures were down 12, or 0.1 per cent, at 9,823.

The mixed signals about the scale of recovery in the U.S. economy weighed on oil prices, with benchmark crude for December delivery lower by 66 cents at $78.90 a barrel in Asian trade. The contract rose 87 cents to settle at $79.55 on Tuesday.

In currencies, the dollar fell to 91.28 yen from 91.79 yen. The euro fell to $1.4789 from $1.4809.

(The Canadian Press)

North American markets

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Dow Jones	9,882.17	+14.21 or +0.14%	+12.60%
S&P 500	1,063.41	-3.54 or -0.33%	+17.73%
NASDAQ	2,116.09	-25.76 or -1.20%	+34.18%
TSX Composite	11,053.54	-181.34 or -1.61%	+22.99%

International markets

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	Open	Change	YTD
Nikkei	10,075.05	-137.41 or -1.35%	+13.72%
Hang Seng	21,761.58	-408.01 or -1.84%	+51.25%
SENSEX	16,283.49	-69.91 or -0.43%	+68.79%
FTSE 100	5,107.96	-93.01 or -1.79%	+15.20%
CAC 40	3,678.99	-64.96 or -1.74%	+14.33%
DAX	5,538.43	-96.59 or -1.71%	+15.14%

Bonds

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Bonds	$Current	$Previous	%Yield
Cdn. 10-year bond	101.78	102.23	3.53
Cdn. 30-year bond	116.45	117.05	4.01
U.S. 10-year bond	101.59	101.44	3.43
U.S. 30-year bond	104.02	103.68	4.26

Currency

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BoC Close	Today	Previous
Canadian $	0.9322	0.9380
US $	1.0727	1.0661

Euro Spot Rate	Today	Previous
Canadian $	0.6301	0.6305
Euro	1.5872	1.5859

Commodities

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Gold	AM	PM
London Gold Fix ($US)	$1035.50	$1053.00

Oil	Open	Change
WTI Crude Future (US)	$78.78	-0.77% or -0.97%

(10/28/09)