Daily FNArena News

The US economy will definitely slow, suggests GaveKal, but there are no signs a recession is imminent.

While a lack of affordability will delay any recovery in housing and will flow through into weaker domestic demand, Westpac sees above consensus growth in the US in 2008 on the back of stronger exports.

Credit Suisse suggests Perilya is cheap and has initiated coverage with a Buy rating given potential earnings upgrades from strong lead prices and longer-term growth options from new projects.

The US dollar continued its fight back rally against major currencies last night, sending oil, gold and metals south. The Dow closed slightly lower.

The strong rally in Australian equities since the credit crunch bottom has been driven almost exclusively by resource stocks.

Emerging debt problems for banks in Kazakhstan have the world’s attention with economists expecting more problems among Emerging Market countries to surface.

ANZ economists believe the latest set of job ads data suggest demand for labour in Australia is “steadying”, but still growing.

Investor attention is bound to turn to US corporate earnings this week. But there’s plenty of Fed stuff to digest as well with the release of the September minutes and speeches in Dallas.

Stronger than expected labour market data in the US have opened the door to further share market gains. On Tuesday Alcoa kicks off the Q2 results season. New record highs, here we come?

Barclays Capital suggests the outlook is positive for metals leading into LME week next week, though ANZ’s commodities team sees scope for some short-term profit-taking.