There was no QE3 announced last night but markets have rebounded anyway for the simple reason the buyers have moved in. Dow up 429.
Wall Street tried to recover from an inevitable morning drop but as was the case in Australia yesterday, that recovery failed. Dow down 634.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
A brief look at important company events and economic data releases next week.
ECB intervention confusion in Europe sent a fragile market over the edge last night as margin call selling affected an accelerating slide. Dow down 512.
Wall Street managed to turn another sharp loss into a small gain last night as buyers took advantage of what they see as oversold conditions. Dow up 29.
A snapshot of economist responses to today’s Australian retail sales and trade balance data.
Australian houses will remain unaffordable for many years to come, suggests the AMP.
The debt deal was a mere distraction from the reality of a weakening US economy. Dow down 265.
The RBA’s statement had a much damper tone to it this month as it left rates on hold. But don’t get comfortable.