The market is down  32 having been down 52 at worst. Some buying coming in. Stocks like Telstra are 8c off the bottom. Our Futures were down 6 this morning. The Dow Jones finished up 9 on Friday. The Dow was up 12 at best and down 95 at worst. Wall Street closed tonight.

Over the week the Dow Jones fell for the first time in five weeks, losing 0.3%, the S&P 500 and Nasdaq were both down 1.0%.

European markets were down again on Friday as they continue to re-assess the speculation that the US Federal Reserve will start scaling back stimulus measures.

In the US, durable goods orders were +3.3% in April, beating the forecast of +1.5%. Excluding aircraft and defense durable goods were +1.2%, beating the forecast of a +0.5%.

US 10-year bond yield was down 1bpt to 2.01%. Over the week the US 10 year yield was up 6pts.

Best sectors — consumer staples. Worst sectors — consumer discretionary, energy, financials.

European markets down — UK FTSE down 0.63%, Germany down 0.56%, France down 0.26%, Spain down 0.95%, Italy down 0.66%. The UK FTSE is closed tonight for their spring bank holiday.

Metals mixed — copper down 0.01%, nickel down 0.92%, aluminium down 0.61%, lead up 1.50%. Spot iron ore was unchanged at $123.20 and was up 10c over the week. Gold was down $5.20 to $1386.60. Oil was down 10c to $94.15.

BHP and RIO down 1.18% and 0.92% in ADR form in US with BHP closing at the equivalent of 3457c up 21c on Friday night’s close here.

  • David Jones (DJS) — Third-quarter sales: Total sales were down 2.2% for the third quarter to $391.1 million. The consensus forecast was for sales to be up 0.3% to $401.1 million. Like-for-like sales were down 3.4% to $386.2 million. David Jones says weak consumer sentiment and an unseasonably warm start to winter were to blame. David Jones boss Paul Zahra said the company was focusing on controlling its inventory and costs because of cautious consumer sentiment. He said: “The unseasonably warm start to winter impacted our business in particular women’s wear.” DJS is down 3.88% to 248c.
  • Als Limited (ALQ) — Former Campbell Brothers has reported underlying profit up 7% to $237.9 million, which was in line with guidance. Statutory profit was up 2.2% to $227.3 million. Partially franked dividend of 27c, bringing the total for the year to 48c. ALQ is up 1.14% to 884c.
  • Sundance Resources (SDL) — Says it has received numerous approaches from interested parties regarding the development of their Mbalam-Nabeba Iron Ore Project since ceasing takeover talks with Hanlong Mining. Despite this the share price continues to tumble falling 14.89% last week. SDL up 8.9% in early trade.
  • NAB ex dividend on Thursday.
  • Invocare (IVC) — After the AGM on Friday UBS and Citigroup have a sell recommendation.
  • Technology One Limited (TNE) — Half year profit up 17%. TNE up 3.33% to 170.5c