Energy

Presidents’ Day had US markets closed last night while Europe awaits the outcome of another emergency meeting on Greece.

Both the Commonwealth and National Australia Bank expect oil price gains this year to remain relatively modest.

The EU solution for Greece did not convince Wall Street. Jobs numbers were needed to spark short-covering. Dow up 105.
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Wall Street rapidly emptied last night ahead of the incoming blizzard. In the meantime it’s a Greek waiting game. Dow down 20. (Locked for subscribers until 10:00 AEDST)

Wall Street rallied strongly last night on rumours, but not confirmation, that Germany was preparing to guarantee Greek debt. Dow up 150.

The Dow broke its psychological support level last night and accelerated to the down-side as ongoing concerns continue to drive risk aversion. Dow down 103. (Locked for subscribers until 10:00 AEDST)

Stocks end higher on Friday after waging a dramatic comeback in the final hour of trade. Dow up 0.1%, while Nasdaq flies 0.75%.

Sovereign debt fears are snowballing in Europe, Sino-US relationships are edgy, and signs are tonight’s US jobs number may disappoint. Dow down 268.

Both Macquarie and BA-Merrill Lynch have initiated coverage on Arrow Energy this week but with different views.

Europe is still weighing on sentiment as uninspiring economic data kept Wall Street at bay last night. Dow down 26.