Energy

Could the GFC prompt Russia to turn back the clock?

The Dow clawed back 50 points as agreement was reached on the stimulus bill while the TARP remains a point of conjecture.

Barclays Capital notes it has been growing demand for power that has driven growth in the natural gas market in recent years. Despite current weakness this trend should continue.

Wall Street wanted details, Geithner delivered mission statements. The Dow fell 400. (Locked for subscribers until 10:00 AEDT)

Wall Street went into Limbo last night as TARP news was put back a day. Dow flat.

Short-covering in financials supported a 200 point rally in the Dow as a weak jobs number was shrugged off.

A combination of positive rumours and executive buying in BA turned the financial sector and thus the market around. Dow up 100.

There are icebergs ahead but the Big Australian is no Titanic.

What will Obama come up with? That is the concern that had banks hitting new lows last night. Dow down 120.

According to Barclays Capital sentiment in the natural gas market remains poor as the economic outlook continues to deteriorate but as this improves so should the gas market.