Wall Street staged a mid-session turnaround from its depths last night as a successful Spanish bond auction sparked short-covering and a big sell-off in gold. Dow down 41.
Wall Street held steady all session until 3pm when a massive programmed sell order ensured a technical break-down. Dow down 96.
A glance through the latest expert views and predictions about commodities including evidence of strong thermal coal demand, positive signs for oil prices and the implications of recent announcements in the iron ore and nickel markets.
A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
A glance through the latest expert views and predictions about commodities with updates on forecast steel production in 2010, recent coal price settlements and new palladium price forecasts.
Home sales figures were merely the excuse that sparked another rare rally last night, as value-buying gave way to a short-covering rush. Dow up 225.
Without the North’s backing of China, Danske Bank cannot see a war erupting on the Korean peninsular.
The Dow opened down nearly 300 points as Korea entered the mix before a rolling wave of buying took the average back to only down 22, and the S&P into the green.
Of all the negative influences currently impacting on the Australian stock market, none is greater than “Oh God I’ve seen this movie before”.
The euro fell then bounced hard last night and Wall Street again followed suit, turning a 186 point down day in the Dow into only 66 points down.