300
7th December 2007, 07:50 AM
http://www.radioaukiman.com/images/misc/300finance .jpg
The Dow Jones finished just over 174 points higher overnight on the announcement that there is a plan by the Bush administration to ease the burden by those effected by the Sub-prime/mortgage crisis. Early in the session Target release some lower than expected sales figures and a bleak outlook for December but the market recovered on the on the hope that this news will push the Fed to lower interest rates next Tuesday. Given that US consumer spending accounts for approx 30% of the national GDP and that the economy faces a recession, anything that will help consumers get some change in their pockets will help spark the economy engine again.
Yesterday's ASX run included an early rise followed by a steady day of trading. The ASX finished up approximately 65 points and the local eyes and ears will be waiting for concrete announcements regarding the US economy.
Just my 2 cents.
The Dow Jones finished just over 174 points higher overnight on the announcement that there is a plan by the Bush administration to ease the burden by those effected by the Sub-prime/mortgage crisis. Early in the session Target release some lower than expected sales figures and a bleak outlook for December but the market recovered on the on the hope that this news will push the Fed to lower interest rates next Tuesday. Given that US consumer spending accounts for approx 30% of the national GDP and that the economy faces a recession, anything that will help consumers get some change in their pockets will help spark the economy engine again.
Yesterday's ASX run included an early rise followed by a steady day of trading. The ASX finished up approximately 65 points and the local eyes and ears will be waiting for concrete announcements regarding the US economy.
Just my 2 cents.