Daily FNArena News - FYI

A spectacular result from Amazon headed the positives on Wall Street last night as growing LBO disquiet and very poor housing data reinforced credit market problems. Goldilocks was ahead on the day.

Weekly musings by your editor. Has uranium fallen prey to the revenge of the buyers?

The Dow was down 227 points last night as America’s biggest mortgage lender reported a 35% fall in profit, and it wasn’t all because of subprime.

Danske Bank suggests conditions remain favourable for the euro against the US dollar and forecasts a move through 1.40 in coming weeks.

The Dow posted a 92 point rally last night as M&A shouldered aside subprime and Merck posted a good result.

The Australian CPI will be out on Wednesday while the RBNZ will make a rate decision on Thursday.

One poor earnings result set off a jittery Wall Street as funds buying returned to gold and China hiked.

Wall Street has decided to like Mr Bernanke’s comments as earnings results again pleased, at least before the bell. Oil, gold and base metals were all strong.

The Dow recovered somewhat from an initial 134 point fall last night as bargain hunters offset inevitable Bear Stearns weakness and disappointment from Mr Bernanke.

Weekly musings from your editor. This week the Aussie dollar, Iluka, the greenback but above all the Japanese yen have caught his attention.