ATW’s Jerry Simmons has turned positive on immediate prospects for risk assets, including US and Chinese equities and AUD/USD.
With a new government to be formed in Greece attention turned to Italy last night as the Italian ten-year yield rose dangerously higher. Dow up 82.
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 referendum is off it would seem but Papandreou must still face a confidence vote. It was good enough news for Wall Street. Dow up 208.
Markets around the world rebounded last night without any particular change in the European situation or anything particularly new from the Fed. Dow up 178.
The Greek prime minister’s insistence on holding a referendum on the latest austerity measures means the plan to save Europe is now up in the air. Dow down 297.
Barclays Capital’s analysis of monthly seasonal trends shows November historically opens the good season for equities.
MF Global filed for bankruptcy last night due to sovereign debt exposures while markets remain unconvinced about Italy and the BoJ intervenes. Dow down 275.
The Aussie dollar looks poised for a major retreat, but equities in the US and China may well have reversed course, reports ATW’s Jerry Simmons.