Cautiously optimistic comments from the Fed Chairman outweighed another European warning from Fitch last night. Commodities rallied.(Locked for subscribers until 10:00 AEST)
Gold and US Treasuries had another good day as global risk appetite continues to retreat. (Locked for subscribers until 10:00 AEST)
A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
The Dow closed up only 5 points, but it is still the first two-day winning streak since April. The S&P 500 was up a more definitive 0.4%. All quiet ahead of jobs tonight.
Home sales figures were merely the excuse that sparked another rare rally last night, as value-buying gave way to a short-covering rush. Dow up 225.
Weak manufacturing data, the Israeli attack, hurricane forecasts, and a growing appreciation of the extent of the Gulf oil disaster weighed on markets last night. Dow down 112. (Locked for subscribers until 10:00 AEST)
With no UK or US markets last night, attention turned to whether Europe would react to Friday’s after-market Spanish downgrade. It didn’t.
A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
It only needed China to deny it was looking to dump the euro to release pent up buying demand last night. Dow up 284. Aussie surges three cents.
Wall Street opened stronger last night, but ultimately closed lower, as the rumour mill churned and the euro pushed toward previous lows. Dow down 69.
