Daily FNArena News

The TechWizard believes more weakness should be expected for the price of crude oil.

This week’s banks results have convinced brokers the earnings bounce once expected in FY11 will now be an FY12 story – hopefully.

A snapshot of economist responses to today’s Australian employment data for July, where jobs again increased but the unemployment rate also rose thanks to a higher participation rate.

A glance through the latest expert views and predictions about commodities with Macquarie arguing zinc prices have overshot fundamentals, China making changes in its commodity markets and BA-ML seeing upside for companies servicing Oz Coal mines.

Phosphagenics is trying to develop an anti-fat drug delivered via the skin, which if successful would offer significant upside according to Southern Cross Equities.

If crude oil futures are showing the direction for global risk appetite, this week’s retreat has a lot further to go.

National Australia Bank’s Australian Commerical Property Survey for the June quarter showed a weakening in conditions and a pushing out of expectations for a turnaround.

More data from China have simply added to more concerns about the slowdown and about the need for further rate hikes.

Commonwealth Bank economists believe the global economy is recovering as it should from such a significant financial crisis and there is no need to fear a return to recession.

Oakton delivered a solid full year earnings result, one that leads brokers to suggest the group’s turnaround is continuing.