300
4th January 2008, 07:26 AM
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Wall St closed up slightly by 12.96 points. Investors are eagerly awaiting December employment stats released tonight (our time) which shouldn't be too bad depending on how you read them. My bet is on that the figures are released and investors will have to work out for themselves that they are or aren't seasonally adjusted. Typically speaking, the December employment figures look good because of short term employment jobs for the feastive season being filling - thereby padding out the stats. So while you get chefs, waitstaff, store packers getting casual employment, they don't register as unemployed.
The price of Oil has reached an all time high trading now over $100.09 per barrel. This has fairly high implications given that the US is in winter and oil heaters are still the rage over there. The higher energy costs again will slow down consumer spending which should give the fed more reason to further cut interest rates again. However, that isn't a long term answer. I mean, what do we do when the price of oil keeps heading north because the resource is so scarce? continue to cut rates? Nah.
The ASX looked set for a day where investors might have been found under their desks in the foetal position after the lead from the US was heavily in the minus. However, after a sharp drop, the market held steady and only down around 60 points.
Happy new year all - wish I was still on holidays :o
Wall St closed up slightly by 12.96 points. Investors are eagerly awaiting December employment stats released tonight (our time) which shouldn't be too bad depending on how you read them. My bet is on that the figures are released and investors will have to work out for themselves that they are or aren't seasonally adjusted. Typically speaking, the December employment figures look good because of short term employment jobs for the feastive season being filling - thereby padding out the stats. So while you get chefs, waitstaff, store packers getting casual employment, they don't register as unemployed.
The price of Oil has reached an all time high trading now over $100.09 per barrel. This has fairly high implications given that the US is in winter and oil heaters are still the rage over there. The higher energy costs again will slow down consumer spending which should give the fed more reason to further cut interest rates again. However, that isn't a long term answer. I mean, what do we do when the price of oil keeps heading north because the resource is so scarce? continue to cut rates? Nah.
The ASX looked set for a day where investors might have been found under their desks in the foetal position after the lead from the US was heavily in the minus. However, after a sharp drop, the market held steady and only down around 60 points.
Happy new year all - wish I was still on holidays :o