Base Metals and Minerals

The Dow rallied 200 points as The Plan moved another inch closer to agreement, but it is a very watered down model that Paulson may have to accept.

All financial markets were as good as unchanged last night as the world goes into limbo. A resolution on The Plan does not yet look imminent. (Locked for subscribers until 10:00 AEST)

ANZ expects commodity prices will continue to trend lower in coming months, with the direction of the US dollar a key variable at present.

Weaker Chinese consumption and growing stockpiles is likely to put pressure on copper prices.

The Dow managed to hold square by 3pm but a lack of progress on Capitol Hill saw a late sell-off of another 161 points. (Locked for subscribers until 10:00 AEST)

The Dow fell 372 points as Paulson’s plan was met with uncertainty. The US dollar was trashed. Oil made an artificial spike.

Weekly musings by your editor. The dangers and perils of using stockbroker research reports as a tool for investment decisions.

Another 368 points in the Dow. Heavy volume. The world awaits.

The US Treasury has a plan that will involve rescuing the entire financial system, not just those institutions which look like failing. A snap short-covering rally sent the Dow up 410 points. (Locked for subscribers until 10:00 AEST)

Fear gripped Wall Street last night as corporate bond markets crashed and investors rushed out of equities and into Treasuries and gold. The Dow was down 450 and gold up over US$80.