Wall Street reversed a sharp opening loss in lockstep with a reversing US dollar last night ahead of the G20. Dow up 9.
A late notice from the CME that metals margins would be increased turned gold and silver around big time last night. Dow down 60.
Renewed European debt fears gained momentum last night sending gold through US$1400 and the Dow down 37.
A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Forget “sell the fact”. Are stock and commodities markets now in a win-win situation? Big jumps last night including 220 points in the Dow would tend to suggest so. (Locked for subscribers until 10:00 AEDST)
Well at least the QE2 revelation, which was sufficiently in line with expectation, is now behind us. Dow up 26, Aussie now worth more than the greenback.
Anticipation of a Republican landslide along with QE2 comfort pushed stocks higher and the US dollar lower last night. Dow up 64.
The Dow was both up 125 and down 55 last night before closing flat as the buyers and sellers battled it out ahead of this week’s major events. Dow up 6.
A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Another big drop in the US dollar suggested QE2 positioning last night but stocks were unmoved. Dow down 12.