It was an explosive opening to the second quarter on Wall Street, aided by better economic data and a successful Lehman capital raising. The Dow rose close to 400 points.
Barclays Capital’s latest analysis of seasonal trends shows equity prices traditionally do well in April, the Aussie market especially, while the Kiwi dollar also generally strengthens.
The worst quarter on Wall Street in six years came to a lacklustre end last night, the Dow rising 46 points as commodity prices fell.
The Dow fell an uninspired 86 points on Friday as the first quarter winds down.
Tech stocks and financials took Wall Street down again last night, as the Dow lost 120 points.
The Dow fell over 100 points on weak data, a weaker dollar, a resurgent oil price, and renewed concerns surrounding Citigroup.
Wall Street shrugged off weak consumer confidence numbers to post only a small fall in the Dow last night.
Not every central bank has abandoned the greenback.
JP Morgan upped its bid for Bear Stearns to US$10 which, along with some slightly better housing data, helped the Dow add another 187 points.
It was another rough night on Wall Street for commodity prices, but this time the stock market found cause to rally. The Dow gained 261.