Daily FNArena News - FYI

Mixed third quarter profit reports affected a mixed day on Wall Street.

Weekly musings from your editor. This week: has spot uranium finally bottomed?

Wall Street managed to convince itself last night that the month-old Fed minutes foretold of further rate cuts ahead. Aye caramba.

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.

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

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

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?

The market has rallied strongly since the July/August correction but AMP’s Shane Oliver and market strategists at UBS don’t expect a crash similar to 20 years ago.