Daily FNArena News - FYI

JP Morgan suggests the big five Australian banks have up to $25bn exposure to CDO-invested SIVs and conduits. What?

After falling 240 points on Tuesday, the Dow rallied 247 points last night. More light volume. More Bernanke madness.

Weekly musings from your editor. At a time of such extremities only one conclusion can be made: this is either the biggest bull market of our times, or a bear market is about to begin.

What is the correlation between lunar eclipses and stock market crashes?

ANZ Bank senior currency strategist Tony Morriss suggests with uncertainty impacting on risk appetite in global markets it will be technicals rather than fundamentals that offer guidance.

The Dow fell 280 points last night as more poor housing data were released, consumer confidence fell, Merrill Lynch downgraded financial stocks and, bizarrely, the FOMC minutes from August 7 were poorly received.

The sub-prime crisis may not be over but Commonwealth Bank expects strength in the Australian and global economies will continue.

On Friday new home sales spurred Wall Street. Last night existing home sales achieved the opposite.

After a slow news week last week and relatively calm markets, this week sees a step up in economic data both locally and in the US. Just how confident is the US consumer?

Stocks rallied strongly on little volume to close the week on a high note following some surprising data.