A sluggish day of sideways negative trading ended with the now usual late flurry that saw investors lock in some of yesterday’s gains. Dow down 0.4%.
Some good earnings results, a positive bond auction, and a Bernanke denial broke the spell of nervousness last night. Dow up 170. (Locked for subscribers until 10:00 AEST)
The US dollar has long been the world’s reserve currency but with the US economy now weak there is little to support a sustained continuation of this trend.
The economy is stabilizing and inflation is not a threat, says the Fed. Dow down 23.
Wall Street corrected after Monday’s fall, at least enough to hold steady on the session all up. Dow down 16. (Locked for subscribers until 10:00 AEST)
Yesterday’s offshore trading sessions were all about the return of risk aversion. (will be unlocked for non-paying members at 10am).
Both National Australia Bank and TD Securities suggest the Australian dollar is overvalued at present and so could move lower in coming weeks.
The Dow struggled, while the broader market pushed a little higher on a quadruple witching day bereft of the normal volume and volatility. Dow down 0.2%.
Some positive economic data helped Wall Street to a welcome up-day. Dow up 58. (Locked for subscribers until 10:00 AEST)
There were no shocks on regulatory reform and Wall Street took the day to resettle. Dow down 7.