United States

Topsy-turvy and largely directionless is the best way to describe last night’s session. But increasingly inflation is becoming the topic of discussion.

The Philly Fed president turned Wall Street around last night by hinting that inflation might prevent another cut.

Significant services sector contraction in January sent the Dow crashing down over 350 points.

A win by the Giants was meant to signal a bullish 2008. But instead the Dow fell 100 points.

The RBA will announce a rate rise on Tuesday, while Europe and the UK have rate decisions to make as well.

An extraordinarily bold bid for Yahoo! by Microsoft swamped what was otherwise a night of economic confusion.

ANZ economists are not predicting a deep US recession, nor do they see any major problems for Australia.

The Dow opened down but closed up – a mere 452 point rally ensuing in the middle. It was all to do with bond insurance.

The market asked and the Fed delivered another 50 basis points in the wake of an ugly fourth quarter GDP.

The Dow closes mildly higher as the world looks to tonight’s Fed announcement. Base metals go for a run.