Daily FNArena News

That’s not volatility. This is volatility! The Dow managed to rally 77 points in early trade last night before losing the plot and falling 182 points from its high.

Telstra’s FTTN decision is expected to lead to lower broadband prices and increased competition, but ADSL2+ is not seen as a realistic substitute.

The Macquarie Infra spin-off SRG listed last week and hardly set the world on fire. Brokers were circumspect in their initiations.

Downer EDI yesterday downgraded earnings guidance as it wrote-down the value of a number of contracts, leaving brokers unimpressed and resulting in the share price being slashed.

News Corp will earn significant revenues from its deal with Google, but the growth of its MySpace networking site and the potential to add new products suggest this is the tip of the iceberg.

After 17 consecutive rate hikes the Fed did what most were expecting – nothing. However, the language suggested this may only be a brief hiatus. Wall Street took profits.

Intersuisse is not part of the FN Arena broker database, but it does manage to come up with some gems occasionally. Enjoy one broker’s updated views on Telstra.

FTTN has supposedly been binned. The latest backward step in the battle between an arrogant telco and an incompetent government.

National Bank’s July Business Survey results indicate business confidence levels and conditions are now being impacted by the recent rate rises, but the solid growth outlook is unchanged.

Steel industry consultant MEPS suggests stainless steel prices are likely to reflect nickel prices in coming months, so short-term rises and a weaker longer-term outlook are expected.