Market update - Breakky edition

[300]

Deviating away from the 'Markets Down again' thread, I have started a new one; mainly for the fact that over the past few days the sentiment in the markets has changed as Ma and Pa Kettle (for those that don't know the parents of Joe Average) are understanding what the hell the US sub-prime is and a general understanding of what it can effect. This understanding comes on the back of the effects of the original panic where investors were asked to cough up or make good on their lending promises - aka calls. After the first round of calls it appears that all neccessary selling and portfolio evaluations were put in place making the initial call quite a shock. Since then there have been aftershocks and now it is almost a 'cry wolf' feeling when the NYSE Cow goes to the slaughter house.

So after a brief introduction to the new thread, the Dow finished just over 50 points higher today and everyone likes finishing on an up :-) Although there were some losses yesterday in the ASX in the morning, the market recovered well to finish slightly higher by the COB. Two positive days in a row will do nicely for this mug punter :hithere:

[300]

An early brekky update for the Monday moaners. The Cow Jones had a substantial dump on Friday's trading falling by amounts seen in recent weeks. This time the sell off was initiated by surprisingly low payroll reports in the US economy - the lowest in four years. The reports indicate the health of the economy - the larger the payrolls, the more people in work, the more being produced, the stronger the economy, etc. The figures were expected to have increased this quarter, however they decreased sending investors to the hills. With such a large drop the investor perception that the economy's health was steady has been smashed and a larger fear that the sub-prime issues might be a symptom of further weakness in the US economy.
After a tidy close on the ASX on Friday, Monday might be a reversal of the gains.
Just my 2 cents

[300]

As expected yesterday was not a day for record profits in the ASX. Overnight, the US markets were up by a mere 14 points which means that the loss of 250 points on Friday has held. Investors haven't bought back in (unlike August) and brought the market up which appears as if now we have investors on the sideline waiting to see what happens in the market. The current thought is that they are waiting on the US Fed's move on Sept 18th to decide how to buy in rather than lose again in the short term. The current debate in the US is by how much the Fed will reduce the interest rate by - .25% or .5%. A spokesman for the US Fed mentioned yesterday that they are not in the habit of protecting investors which has been translated into meaning that a rate cut may not happen. All will be revealed in time...

The good news on Australian shores is that the reaction in the ASX was not as great dropping only 50 points by the end of the day. This appears to be some optimism potentially stemmed from the recent APEC talks and future resource deals with China.

[Besty]

Very detailed, and in all a good summary of current market ... issues :blink:

[300]

The Dow closed 30 points lower overnight which is good to see that the major swings of August have not returned. Maybe another sign that all the players are not back in the game and are holding off until the US Fed release their plans for the near future.

Back home, yesterday's trading saw some good gains in the market in general but only up a total of 30 points. Looks like there is a holding pattern at this point in time until the 18th. Not much news today, happy trading.
just my 2cents.

[300]

US Markets finished flat over night with a minimal slide of only 18 points, however volume was within a normal range so the sidelines may not be full just yet. Some concern in the US about the potential interest rate decrease and whether it will be enough. The value of the US dollar fell which has been the trend in recent times. This may have a flow on effect as it will encourage exports which may just kick start the economy in a business cycle downturn. The US Fed has a tough call on it's hands. If it drops the interest rate and the dollar value continues to fall at the same rate, it may have an uplifting effect on inflation. Once this get''s out of control it can be a hard road back to stability. So the minds behind the scenes have a hard decision to make.

On Aussie shores, yesterday saw a drop yesterday of around 40 points and on the balance of the week so far, this appears more like sideways movement with each previous day's movement counteracted by the following day. By the look of some loan stocks (RHG to be more precise) the local punters are still quite nervous about anything to do with real estate and loans. So, no real news today - Groundhog Day time for the market until the 18th

[300]

I love good news Fridays. The Cow Jones went back out to pasture to graze overnight and came back 110 points higher on the back of reports from one of the largest US mortgage lenders that they secured 12 billion in credit. This is a good news story with huge ramifications as it appears that the recent reported doom and gloom in the US market housing sector might be overstated. Afterall 12 Billion is a lot of money. My thoughts for what they are worth (as an IT guy reporting on finance - probably not that much!!) I think that it might be a glimmer of hope but not the norm. Either way, it has sparked some confidence and that is good for prices in the US and abroad.

Back home, yesterday the market ended up steady on the open mark. With good news from the US, today might be a nice day to buy up. Looking forward to the opening 20 mins.
Just my 2 cents.

[300]

Friday night, the Dow finished only 17 points higher. Other analysists agree that everyone is waiting or second guessing what will happen on Tuesday the 18th with the US Fed - which will be Wednesday morning for us. The anxiety levels are high shown by a sharp drop in the US markets caused by the Bank of England bailing out a major bank from a liquidity crisis.

On our shores, Friday was a good run, with the ASX moving up 70 points. Still not back at the 6400 level before the August correction, but a nice solid move up. Looking forward to a continuation on the back of Friday's positive move in the states.
Just my 2 cents.

[300]

A good program about the current US sub-prime situation broken down into layman's language on www.abc.net.au/4corners. A great wrap with good presentation. Well worth a look.

The news in the US isn't good with the Dow Jones down almost 40 points overnight. There was lower than average volume traded on the market as eveyone is now in a hold pattern waiting for the announcement from the Fed sometime tonight. The Northrock bank in the UK hitting a liquidity crisis and having to be bailed out by the Bank of England didn't help investors perception that the main pain is over. This was over a profit warning. Merryl Lynch reported job cuts. There is still some reporting from the major brokeragers for the third quarter which may trigger another round of sell-offs. The Fed has a tough decision ahead, if it get's the rate cut wrong, it may get a finger pointed to it for causing a recession and as they said last night on four quarters, "If the US sneezes, the rest of the world catches a cold".

Back at home we enjoyed a nice rally yesterday after a morning fall but ended up just over 15 points lower. Today, won't be a party, and I would suggest that tomorrow will not be much fun either as reaction to a cut less than hoped for will continue a withdrawl for the Joe Average's out of the US. No directly related news from our market with our biggest upcomming announcement being the outcome of the next federal election and how that will effect any deals made during APEC with our neighbours. All eyes are on the US at the moment.
Just my 2 cents.

[300]

A rather excited US investor scene after the US Fed released their rate cut and they made it the biggest possible cut out of all the options. Within minutes of the cut, the Dow jumped vertical 180 points then continued up for the rest of the day to finish 339 points up. Different to the big swings in August, this has a reason behind it other than investor whims; so expect a good day on Australian shores. This may be an indication that the US was closer to a recession than openly thought. Now the US is in a state where some young investors may get a sense of security that the Fed will help with the pain when times get tough. There are worrying global signs with Northrock Bank in the UK needing crisis cash and not wanting to be a doomsayer, the global economy might be in for a rough ride over the next 12 months.

Yesterday the ASX dropped 60 points - some of which may have been due to the investor population being influenced by the 4 corners segment or the T -3 investors that bought in on Friday. Either way the US Rate cut will have to have a positive effect in Aust. it may even put more pressure for our Reserve Bank to increase rates as investors continue to spend up. Either way this punter has a float today and is eager to see how much it get's on a good day for it's first.
Just my 2 cents.

[300]

Overnight the US markets continued their march north ending up by around 60 points. This is a good reaction from investors as they see that there must be some 'real economic support' and have gained confidence. The worst case scenario for overnight would have been a drop showing that there was no confidence in the market triggering more global turmoil for investors. So the news is good. CPI figures came in as expected which is a key indicator and one of the only ones in recent times to have hit the forcasted mark. Daily volume increased by around 20 million suggesting that the wall-flowers have entered the comp again. However, the news isn't all great. The #2 US Investment Bank recorded lower profits for it's 3rd quarter which is a reflection of the last few months. When a bank write's off $1 Billion the effects won't stop there, and if this is happening to #2 surely #1 will have some negative reports to come. This may be the first sign that the bull market is turning, which will mean a few tough years ahead. The lowering of the investment rates will increase foreign investment out of the US and has the potential to lower the value of the US dollar as US investors start to invest off shore. Given the current climate with the US and China, this might flow a greater source of funds to Australias way which in turn will push the demand for Aussie dollar higher and make my plan for a holiday in the US early next year sooooo much easier :-)

At home and as expected, yesterday's trading was up around 110 points made up by a huge jump right after the opening bell and then a plateau as some profit taking started about half an hour in. With the US news, today should also see stocks finish higher and it might be relatively easy going in the short term. Friday afternoon normally sees a run, so enjoy the downhill run punters.
Just my 2 cents.

[300]

Overnight the US market finished nearly 50 points lower as investors in the US took profits from the 400 point gain since the rate cut. This is typical market behaviour. typically the US market will normally take about a month to absorb the shocks from the rate changes so it should be a see-saw for the next few weeks. The drop was also encouraged by some more than expected losses from a couple of companies adding to the underlying nervousness everywhere at the moment.

At home yesterday was a surprising day after a good lead from the US, the ASX finished steady. Today is a traditional end of week run but from the US lead, the expectation is for an initial drop in prices.
Just my 2 cents

[300]

The Dow Jones finished 53 points higher on Friday's trading boosted by Oracle Corp's profit results that showed a 25% increase. Investors took this on board as proof that the entire economy isn't heading down the drain and that some sectors are actually doing quite well - getting this news the same week as the .5% rate cut didn't hurt either!! There appears to be a light on at the end of the downturn tunnel for the US economy according the Friday mob of investors that is.

The ASX had a surprisingly poor Friday ending lower by almost 30 points despite a late rally from 3:15pm until market close. With the Friday close of the US higher, Monday might be a good day for the local punters. Soon the Federal election will start making local waves and as usual only time will tell how the markets react to the winner there.
Just my 2 cents.

[300]

US stocks fell overnight to the tune of 60 points, amid probable profit taking after last week's run stemmed from the rate cut. Oil fell for the first time in a while and now sits just above $80 per barrel. This was due to a tropical low in the gulf of Mexico causing light damage to some infrastructure. Some of the financial sector stocks fell due to continued concerns about tight conditions in credit markets and they may be spot on the money with this. After all a .5% rate cut will not in itself stop an economy falling into a recession and it is predicted that the US rates will drop again before sitting steady. Economic data is due out this week regarding consumer spending which will give the Fed a idea of how the economy is faring.

The ASX got up and boogied yesterday will a steady incline in the market all day. Typically the market will rise in the morning fall shorly after and recover with a late recovery run in the afternoon - either that or just fall :-) Yesterday the local markets rose almost exactly 100 points which might have been on the back of seeing the US markets hold up after the rate cut. The close was the better than the record close in July before the August correction and Superannuation funds are again making money.
Just my 2 cents

[300]

US stocks fell by 19 points overnight as the US market consolidates. There are some regions of the US that are posting growth where other economic indicators are still pointing to recession. The upcoming suite of economic reports will have more than a couple of observers keenly awaiting their arrival and then second guessing the Fed's next move. Anxious times for the US economy as they balance between a slow down or a recession.

The ASX had quite a good run yesterday reaching an all time high of over 6500 showing that this weeks run is holding and all the losses sustained in the market as a whole, have now been reversed and the ASX is moving into new ground. For those that are interested, the gains are being led by resource stocks and metals prices.

[300]

US stocks rose by just over 99 points overnight as some of the larger companies that make up the Dow Jones index revealed some favourable news over recent issues. GM motors has a potential mend in it's current industrial action. Investors chose to focus their optimistic views on the good news rather than the pessimistic economy as a whole. August figures on consumer spending and consumer confidence were released on Tuesday showed a fall on the previous month's figures. This has sparked the rumour mill again to fire up about another rate cut next month and the economy continues to point towards the fact that it is still slowing down.

Back home, the ASX had a fair run yesterday again hitting over the 6500 mark but falling to around 6480 which is up about 20 points on the opening. Resource stocks leading the market again. With the US up so much overnight, might lead for a good day today.
Just my 2 cents

[300]

US markets finished higher overnight as investors read into the negative economic indicators and can see another rate cut next month. There appears to be a realisation that all the bad news isn't falling down as much as was previously thought. The Dow Jones is back to a position near it's record highs on July 19th.

The ASX continued it's steady rise and closed around 50 points higher. Obviously positive sentiment has had a welcome return to local investors. Friday, as most Friday's go, should see a late rally and on the back of a good consolidation in the US most likely a rise.
Just my 2 cents

[300]

The DOW Jones waas down slightly on the Friday trading but only by 17 points. The main issue driving the markets south slightly stems from some corporate profits reported as being down. However, this was expected so the drop hasn't been significant. Trading was in good volume showing that confidence is staying in the market.

ASX is in the same reporting season as the US markets. This will not mean too much to the local punters as most investors already know what is going to be reported. Most peoples eyes are watching for the US Fed's next move this month, and the outcome of our Federal Election.

[300]

The Dow Jones finished 99 points higher on Friday night on the back of nice employment results. Not only were the monthly figures up the previous month's data was revised from 4000 down to 89000 up. Some change!! and it sits close to what analysts were predicting. This seems to suggest that the US economy isn't staring down a drain pipe. The strong figures were led by Blue Chip resources who racked up a record high finish and are set to continue on Monday. However, some sources believe that the next round of US Housing issues is on the horizon as the anniversary of home ownership based on a sub-prime loan occurs. Typically the homeowner has banked on captial growth and can then use that equity to afford a mainstream loan at a much lower interest rate. Unfortunately, this gamble will not play out for most and they will either have to hold and pay or face bankruptcy.

Back home, the ASX finished only around 35 points higher but with the US finishing on a high on Friday, Monday is set to open well. Large gains in Blue Chip stocks again led the way here Rio Tinto leading the pack.
Just my 2 cents.

[300]

The Dow Jones rose around 120 points to finish on a record high. The rise appears to be due to investors anticipating that when the central banks meet at the end of the month, that they will cut rates again. Prepare for a substantial day or two of falls if it doesn't!! However, with the tightening credit market being talked about daily by commentators, the likelihood of a rate cut looks good.

Back home, yesterday the ASX rose considerably but this time it was the industrials rather than the resource stocks leading the pack. On the back of a good run off the US markets and with some fourth quarter activity reports coming out from the resource sector, today might be a very good mid week session.
just my 2 cents

[300]

The Dow Jones finished about 85 points lower overnight on the back of rumoured reduced profits in blue chip companies. Real Estate groups have also mumbled that the housing purchases is going to slide further this month. This is quite interesting timing as only two days ago the US Fed released the minutes surrounding the meeting where they decided to drop rates by 0.5%. It looks as if this might be 'hype' in an effort to generate a climate where the US Fed will have to drop interest rates another 0.25%.

Back home the ASX finished on another record high. Soon there will be profit taking on the recent market gains and given that the US didn't fair too well overnight, today may be that day.
Just my 2 cents

[300]

The Dow Jones fell by 64 points overnight as traders took profits. The recent rise of stocks has been too quick for conventional thinking and as the old saying goes, what goes up.... . The technology sector fell a little on the back of news from a Chinese IT firm of lower sales expectations. Early in the session Wal-Mart released and upgraded profit forecast. This is significant news for the US as two thirds of the GDP is based around consumer spending. If consumer spending is on the rise then the chance of another US rate cut starts to diminish. Interesting times ahead.

The ASX soared to new heights again finishing around 6770 - 6780. Commodity prices increased over night which may pave the way for some gains in the resource sector today after a couple of days where the industrials led the pack.
Just my 2 cents.

[300]

The Dow Jones finished higher by over 70 points on Friday night. Although some economic data coming from the states is reporting that the economy is growing at a healthy rate, there are other indicators that it is still slowing - increasing stock piles and consumer sentiment slipping. The rise might then be a result of investors still banking on a second rate decrease.

The ASX finished lower by aout 30 points on Friday but still up around record highs. With the election date announced over the weekend, speculation surrounding the timing can stop and in late November we will see how the market reacts.

[300]

The Dow Jones fell 100 points overnight with investors nervous about up coming quarterly reports. Already Citibank has recorded a fall in profits and there is news that major US banks are setting up a fund to bail out credit markets; and this caused concern in the investing mob. Investors are now waiting for the reports coming out of the reporting period and this may lead to the next couple of weeks being not so good.

The ASX started the day yesterday heading north and at a rapid rate. This trend reversed and the market ended up only slightly down.

[300]

The US markets fell another 71 points over night with the US Fed chairman saying that the housing credit crunch will continue to effect the economy well into Winter. To compound the doom and gloom, current third-quarter earning reports are not expected to be much more than dismal and the cost of energy continues it's migration North with Oil at US$88 per barrel. This puts a heavy anchor on the entire economy.

Back home, the US news will be welcome with any local holiday makers heading over to the US for a white Xmas as our economy is still strong and this should continue to help the value of our dollar against the greenback. Yesterday the ASX too a slide down 100 points but regained 80 of them during the rest of the session. With two negative days in the states, local investors might get a little nervous and today might not be the best day in the market.
Just my 2 cents.

[300]

The Dow Jones fell again overnight to the tune of 20 points. Investors are getting nervous with poor quarterly reports, rising oil prices, and economic data suggesting that the economy is still slowing. The only glimmer of hope was from the IT sector where predicted losses weren't as extreme as the predictions suggested. This gave a small ray of hope for investors that are being bombarded by bad news daily.

At home, the ASX closed 30 points lower yesterday and with no real economic data persuading the investors one way or the other, the eyes are most likely looking at the US for any leading signs of change. The price of Oil is said to be headed to $US100 per barrel and a fundamental re-rating is being mooted for all oil stocks with the current oil ratings based on a price of $US50 - $US55 per barrel.
Just my 2 cents

[300]

The Dow Jones finished only 3 points lower overnight after an initial fall of 60 points, the red-spot special buyers came in and picked up a few bargains. With the price of Oil still on it's march north, news out of the Bank of America confirming that the credit crisis isn't over yet, and less than expected quarterly reports from institutions have fuelled the drop this week.

Yesterday the ASX finished up 70 points with a steady rise across the day.
Just my 2 cents

[300]

Sorry for the zero reports since Friday, I have been out of town picking up a new motorbike - see the motor Sports -> Bikes section for more info on that front. Anyway, down to business.....

The Down Jones finished higher again this morning by more than 100 points after positive earnings news from the IT sector (Apple corp) and Blue Chips (American Express, and DuPont Chemical Co). Investors appear to be hanging on for good news in the long train of trouble over in the US economy. The US Fed meet next week which may see a rate decrease yet again and current thoughts are that there will be a .25% decrease and this will see an instant gain on the market if there is.

Back on shore, the ASX rose close to 90 points yesterday, there should be another rise today and then with the quick gains, profit takers are due soon which will take some of the shine off the figures.
Just my 2 cents.

[300]

The Dow Jones ended down less than 1 point overnight after an initial fall of around 200 points. Analysts in the US have suggested that the rumour mill is in full swing leading up the US Fed meeting next week and Wall Street wants a rate cut. Investors appear to be heading for the hills at the first signs of trouble. The market reversed on good news coming from the Blue Chip stocks.

The Australian market yesterday initially went up to reach a peak of just over 6730 only to fall back to below 40 points on the open index. This turnaround was caused by release of inflation data and the likelihood of a rate increase next time our reserve bank meets. This strong economic data, against the US economy is what is currently driving the AUD north against the USD making Xmas holiday plans a little easier for some :-)

[300]

the US markets fell slightly by just over 3 points which finds the past two days the US markets have finished pretty much steady. Investors appear to not be sure what to believe with the mixed economic indicators being published. The current market standoff seems to indicate that everyone is again sittting on the fence waiting for the Fed to speak next week.

The Aust All Ords yesterday also finished steady after being up over 50 points mid morning. Today, the expectation is for a relatively quiet day trading and a rally in the last 30 mins.
Just my 2 cents.

[300]

The US markets ended the week on a high, up 134 points on Friday's trading. The rise was generated by good reports from Microsoft Corp and Countrywide Financial Corp. MS release strong earnings report and Countrywide released a strong outlook saying that it expects to return a profit in the third quarter. Two things to note from this, the rise isn't due to any real economic information and without these two stocks reporting good news, maybe the Dow Jones would have finished the week steady. The other trend to note is that the IT sector appears to be quite strong amidst doom and gloom in the states with MS's earnings up, Apple Corp earnings up, Google recently released increased earnings also. Investors might start taking shelter in this sector and lower their exposure to the banking sector that has strong links to the US housing crisis.

The all ordinaries finished nicely up on Friday at around 6700 - which was up 60 points from open. These are record highs for the all ords and some punters are suggesting that the 7000 mark might be crossed before Xmas. Industrial stocks and Health Care stocks appeared to do well. With the rally on the US markets, the Monday open should be good followed by a down turn as weekend profit takers move on in.
Just my 2 cents

[300]

The Dow Jones ended up 64 points higher as investors shrug off record oil prices and a continuing credit crunch to second guess the Fed's move that it will cut interest rates. The US Fed meet today and are expected to drop rates by a quarter of a percent. If this happens the market should shoot up as all investors get in on the action, however, if they leave the rates steady, I would expect a sharp decline.

The Australian All Ords had a great day yesterday finishing up around 60 points. Local eyes will be watching to see what comes out of the Fed's meeting in the US and so will a few (if not all) of the economies around the globe. The US are in a situation where they need to choose carefully or they may trigger a global slow down regardless of the resources being soaked up by China and India.

[300]

The Dow Jones fell by 77 points overnight with investors nervous about which way the Fed will turn in with their decision overnight tonight. The Fed started their meeting last night and will deliver what most people predict to be a .25% drop in rates.

Australian ASX 200 dropped yesterday also by around 40 points. Just a quick post this morning as I have some meeting to head to.
Just my 2 cents.

[300]

The Dow Jones finished a nice 130 points up overnight after the US Fed dropped interest rates by .25%. The dialog from the US markets suggested that the indicators saw the US economy getting back on track and that the focus for the future would remain on the usual topic of inflation. I suspect that this will be revised in the future as more companies report on their activities and reduced expected profit levels.

Back home, we saw the ASX 200 drop then rise and fall again to finish off around 10 points higher. I would expect a day of gains after the news from the US overnight which might make it like a Friday buying spree today.
Just my 2 cents

[300]

The Cow Jones went back to the slaughter house overnight and dropped just over 360 points for the session. The fall was from investors pulling out after talks that the US Fed will renew it's focus on inflation. With the rising price of oil, this is driving the cost of living up for citizens, especially coming into winter where oil heaters are used. If the Fed concentrates on inflation, their next meeting in December has a fair chance of not cutting rates because a cut in rates will have a flow on effect on consumer spending (pushing it up) which will in turn increase demand for goods and services and then a price increase which is inflation.

The ASX all ordinaries was up yesterday about 70 points. How long can this sustained growth keep up for? With the news from the US not being so good - I would expect today to be not as happy as other Friday's. However, two Monday's ago, the US markets dropped around 300 points and then next trading day for us locals, the local market only dropped 70 points and if that scenario repeats, then we are back at yesterday. Interesting times!
Just my 2 cents

[300]

The Dow Jones finished slightly higher on the close of Friday's trade, up just over 27 points after free falling on Thursday. At one stage the markets were down 120 points lower but the news of higher than expected jobs filled for the month of October - 5 times higher than expected - helped the market recover. It should be noted however, that these figures are notoriously adjusted and such a large gain above expectations, there should have been a corresponding hike in the markets but there was none to be found. Investors are still concerned about impacts on the housing crisis and tight credit markets. The surrounding notes attached to the Fed's decision to cut interest rates suggest that they are concerned about a slowing economy which should equate to more cuts in the future. This is different to the talk they are talking currently where they are saying they are now focussing on inflation (which would eventuate in rate increases similar to what Australia is experiencing at the moment.

Back home Friday wasn't great with an initial drop of 100 points and only a slight rally from 3:30 till close. ASX 200 down 132 points and the All Ordinaries down 126 points. The only sector that had a good day was the telco's up 27 points.

[300]

Back from a long break after head colds, trips to Alice - anyway enough whinging for now, let's get into it.

On a rather pleasant note the US markets bounced up over 300 points overnight after being up over 200 points the night before. To put this into perspective, this is the biggest 2 day gain in 5 years. This has been due to comments made by the US Fed that it may cut interest rates again after the next meeting. The US market has been very fickle to say the least since June this year and it has been more of a case of what-goes-up-must-come-down syndrome. I think there will be some profit taking before the week is out and a late buy in on Friday afternoon (Friday night our time).

The ASX yesterday dropped despite big gains on the US markets yesterday. With the US markets backing up the gains with even more substantial gains, today should be a good day for the local players.

[300]

Again the US markets posted a positive result but this time only just over 22 points as the current run, which is based mainly on hopes, start to run out of puff. It should be noted that there is mixed economic data coming from the US reporting so any sustained gains can't be expected. Energy stocks rose as the price of oil got more expesive, but some financial institutions fell back.

The ASX rose just over 40 points yesterday, which is interesting as it highlights that although we are affected by the US markets, it isn't a direct relationship.

[300]

The Dow Jones finished up only 4 points on what has been commented on as a lethargic day as investors await signs of a guaranteed rate decrease. No major news was released on Friday to swing investors one way or another.

Australia's Friday trading left the market up 87 points in what was a good day. Still no stellar gains like the US last week, however that might be a good thing showing that our economy has the ability to stand on it's own two feet.

[Carcass666]

This is gonna be fun hehehe.

I don't get all this market and stock stuff?

[kranachan]

its all starting to look a bit gloomy at the moment, hopefully were not on the edge of another downward trend

[300]

The US markets had their second consecutive down day (sorry about being absent yesterday - damn work!!) as investors are cautious about the Federal reserve meeting this month and whether they will get an early Xmas present in the form of a rate cut. However it was only down by just over 65 points so it isn't foetal positions just yet. Investors are still wary of more losses in store as a result of the 'housing crisis / credit crunch' in effect over there. My readings suggest that this is a more a confidence issue as the price placed on risk has been whittled away over recent years. The US is coming out of a 6 year housing boom and investors appeared to have forgotten what risk is, until August that is.

The ASX appeared to be low on volume over the course of yesterday and finished slightly lower but by only a few points again after a rather rollercoaster ride of a day. Interesting to note that there hasn't been an immediate reaction in the market to the change of government in this country.
Just my 2 cents until tomorrow.

[300]

its all starting to look a bit gloomy at the moment, hopefully were not on the edge of another downward trend


With the issues over in the states playing out in waves. There look to be a few more waves yet that should extend into next year. The expectation from this seat is for at least two more rate cuts and one of them to be at least .50 points to start he ball rolling before a deep recession forms. It doesn't look like a time to expect a spaceship ride on the sharemarket unless you happen to get onto an Iron Ore miner that finds the holy grail.