A 274 point rally in the Dow may be welcome but not very convincing in many a view.
Wall Street opened strongly last night, failed, and then kicked at the close. There is now a clear battle between buyers and sellers. Dow up 57.
While Wall Street enjoyed a public holiday the rest of the world took the opportunity to take a breather as well. European indices down 0.3% in thin trade.
Risk assets posted bearish signals on price charts in Q2, but the TechWizard suspects we might see a rally in the short term.
A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Westpac suggests Australia is undergoing a sea change in consumer behaviour, which brokers see as having an impact on operations for retailers of consumer discretionary items in particular.
Wall Street staged a mid-session turnaround from its depths last night as a successful Spanish bond auction sparked short-covering and a big sell-off in gold. Dow down 41.
A snapshot of economist responses to today’s as expected Australian retail sales and weaker than expected building approvals data for May.
A glance through the latest expert views and predictions about commodities, with Macquarie looking at the impact on Australian growth of mining sector investment, how Chinese policy changes could impact and Deutsche updating its commodity sector forecasts.
Low leading indicator and confidence readings in China and the US broke the dam of building disquiet last night sending risk assets tumbling. Dow down 268.