Our market continued the bounce with further gains following on from yesterday’s solid day. At the close, the XJO was up 23.8 points, just over half a percent for the day and down 48.19 points or just over 1% for the week. The market made gains in early morning trade and it was a choppy affair thereafter. Information Technology was the only sector to finish in the red, down 0.3% whilst any strength was pretty much across the board with the exception of financial stocks. Stronger sectors included the Consumer Discretionary, Gold, Telecommunications and Health sectors. Overnight the US market had a pretty flat session, the Dow Jones up just over 8 points, although the Nasdaq fared better with gains of 0.8%. US futures are up only slightly at time of writing in night trading.

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1. Friday 20th May, 2011