The Dow fell over 200 points, crashing through the August low late in the session in another volatile night of trading.
A leading index of economic activity continues to point at above trend growth in the months ahead.
The Dow finished up 50 points last night. As to what you can read into that is anyone’s guess.
The Dow closed down over 200 points as the subprime slime continued to ooze down Wall Street. A downgrade to Citigroup was the main trigger. Base metals were also savaged.
The Dow closed up 66 in a volatile night and finished the week up 1% after 800 points of movement.
Stabilisation in financials gave way to renewed weakness last night as carry trade unwinding reignited. Gold and copper collapsed.
The Dow bounced back over 300 points last night following good news in retail and financials, and a sharp drop in the oil price.
The US, Europe, UK and China all report monthly CPIs this week, while a wealth of economic data may answer some recession questions in the US.
The Dow bounced back from a 200+ point loss while the tech sector melted overnight. Rio rejected an offer from BHP.
Economists don’t expect the RBA has finished hiking rates after this morning the central bank increased official interest rates by 0.25%.