The Cyprus bailout package contains a tax on bank deposits. This is a dangerous policy that creates a new situation, one more perilous than ever, according to professor of economics.
The mounting opinion is that the eurozone ministers will back down on the extremes of their bail-out package for Cyprus. Dow down 62. (Accessible only for subscribers before 10:15 AEDST)
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
A brief look at important company events and economic data releases next week.
The Dow yet again fell early and grafted back, to post its longest winning streak since 1996 with another 5 point gain. (Accessible only for subscribers before 10:15 AEDST)
The Dow recovered from earlier falls to close another 2 points into blue sky last night as the sellers failed to gain any traction. (Accessible only for subscribers before 10:15 AEDST)
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
No monetary policy changes have been forthcoming from any of Japan, the eurozone or UK. Dow up 33. (Accessible only for subscribers before 10:15 AEDST)
The Dow entered blue sky territory last night, boldly going where it has never been before, in rising 125 points. (Accessible only for subscribers before 10:15 AEDST)
Wall Street shrugged off sequesters and Chinese property restrictions to again close higher last night. Dow up 38. (Accessible only for subscribers before 10:15 AEDST)