China’s Q2 data failed to re-assure investors that all is fine and will remain fine inside the Middle Kingdom.
Late news from both BP and Goldman Sachs turned Wall Street around from economic data weakness last night. Dow down 7.
China’s GDP grew an annualised 10.3% in the second quarter, below consensus.
The week-long rally found some profit-takers last night as the Fed poured cold water on recovery enthusiasm. Dow up 3. (Locked for subscribers until 10:00 AEST)
A glance through the latest expert views and predictions about commodities with Barclays still bullish on tin, steel’s outlook improving and who may deliver a quarterly production report surprise among Oz resource plays.
Beijing’s pressure valve of increased low-end housing supply may even serve to support sustainable property prices in China, suggests GaveKal, rather than spark a much feared crash.
Wall Street surged higher once more in the wake of positive initial earnings. Intel’s post-market result suggests a seventh consecutive rally tonight. Dow up 146.
A glance through the latest expert views and predictions about commodities, as Chinese copper import data disappointed and JP Morgan revised commodity price expectations.
The recently established Dagong credit rating agency has made its first sovereign assessments, rating US bonds AA, Britain’s AA- and Australia’s AAA.
The market agrees oil prices will head higher as the global economy recovery and market fundamentals improve, with RBS Australia offering its preferred list for playing the sector.