Risk appetite returned last night and no technical barrier was strong enough to stop equities and commodities from rallying. (Locked for subscribers until 10:00 AEST)
It simply was a good news day yesterday and Angela Merkel was nowhere to be found. Risk assets enjoyed a day under the sun.(Locked for subscribers until 10:00 AEST)
Angela Merkel made sure the Dow was not going to reconquer the 10,000 level overnight.(Locked for subscribers until 10:00 AEST)
Cautiously optimistic comments from the Fed Chairman outweighed another European warning from Fitch last night. Commodities rallied.(Locked for subscribers until 10:00 AEST)
Gold and US Treasuries had another good day as global risk appetite continues to retreat. (Locked for subscribers until 10:00 AEST)
A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
The Dow closed up only 5 points, but it is still the first two-day winning streak since April. The S&P 500 was up a more definitive 0.4%. All quiet ahead of jobs tonight.
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.
Weak manufacturing data, the Israeli attack, hurricane forecasts, and a growing appreciation of the extent of the Gulf oil disaster weighed on markets last night. Dow down 112. (Locked for subscribers until 10:00 AEST)
With no UK or US markets last night, attention turned to whether Europe would react to Friday’s after-market Spanish downgrade. It didn’t.