Daily FNArena News - FYI

HSBC Has joined the list of those bearish on the US economy, suggesting further weakness in the housing sector will see economic growth slow and potentially lead to a recession.

With even further falls in the oil price overnight, Wall Street is now wondering what all that inflation fuss was about.

The chairman of Exxon-Mobil Australia has debunked the concept of peak oil, suggesting there’s still plenty for everyone. But then I suppose he would.

After Wednesday’s labour figures sparked renewed fears of another rate rise, last night saw evidence of a housing market slowing more abruptly than first thought.

A thin and fickle market was spooked by labour cost figures overnight which sparked profit-taking.

Weekly musings from your editor.

Commonwealth Research does not believe Australia will hike again this week, and that many other countries will be looking to go on hold.

The fall in the oil price has halted and gold has rallied strongly as the UN deadline for ceasing Iran’s uranium program passed without result.

GPG’s earnings fell short of expectations, but brokers continue to recommend the stock as the track record of value creation makes earnings performance somewhat irrelevant.

Weekly musings from your editor.