Energy

The Dow was positive at 3.15pm and closed down 336.

The weaker global economic outlook is spurring further cuts to oil price forecasts.

The Dow traded below its previous closing low last night and then staged an 850 point rally to close up 550 for the session.

Geothermal energy is one renewable energy source with baseload capacity that is creating some heat across the globe and in Australia. Hot Rock Ltd is leading the charge in sedimentary geothermal development.

Hank Paulson announced last night the US government had now decided not to buy toxic mortgage assets from banks. The Dow fell 400 points.

It was another volatile session on Wall Street for Veterans Day as the Dow whipped around to eventually close down 176.

An early 200 point rally fuelled by Chinese stimulus failed to hold last night as the Dow drifted to be down 73 on the close.

The Dow rallied 248 points on Friday on a not completely devastating jobs number and some encouraging talk from the new boy. (Locked for subscribers until 10:00 AEDT Monday)

The Dow fell 443 points last night following more weak data and shenanigans across the pond.

According to Barclays Capital the oil price has overshot to the downside as it adjusts to changing market dynamics and economic conditions but longer-term supply side issues support higher prices.