Positive news from all quarters sent Wall Street up again last night and commodities surged. Dow up 93.
Amidst a Chinese rate hike and concerns over Portugal, Wall Street remained stoic on light volume. Dow up 56.
An audit of local government debt has set off alarm bells over China’s actual debt to GDP ratio but economists agree there is no Greek-style debt crisis in the offing.
A warning on China’s debt levels and a downgrade of Portugal by Moody’s failed to spook Wall Street last night after a solid week. Dow down 12.
The hawkish rhetoric continues to soften as the RBA makes the unsurprising decision to leave rates on hold.
It was a quiet offshore session with the US closed for Independence Day.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Barclays Capital’s analysis of seasonal trends for July shows mixed results across equity markets, but commodities, copper in particular, should perform strongly.
A brief look at important company events and economic data releases next week.
The June quarter ended with a bang on Wall Street as Greek fears faded. Dow up 152.