Oil fell over US$3 last night on profit-taking, sending the Dow up 68 points.
With the US and UK closed, there were no major movements in Europe or elsewhere last night.
US personal expenditure numbers for the first quarter will make for interesting reading this week along with a revised first quarter GDP. Credit demand will be key for Australia.
Oil rose once more and the Dow fell 145 points as the housing slump suddenly became important again.
If the Aussie is really heading to parity, get ready for some significant profit downgrades from exporters and companies deriving a large percentage of profits in the US.
It was not quite a major reversal, but oil fell back to US$130 last night allowing a thinly-traded Dow to gain 24 points.
The Dow fell another 200 points last night as oil hit US$134 and the Fed signalled it would not be cutting rates any further.
Soaring oil and subsequently rising inflation finally took its toll on Wall Street last night. The Dow fell 200 points.
The Dow gave back a 100 point rally to be up 40 when one chip-maker pointed to the Nymex.
The Dow rose 94 points after selectively viewing mixed data and focusing on deal-making.