Monthly Archives: November 2010

US stocks traded lower on worries that the $117 billion Irish bailout might not be enough to contain the euro-zone debt crisis. After lapsing under 11,000 points the Dow finished the session at 11,052 with the energy sector helping the index to reverse off its lows. Read more…

The Australian market is expected to open weaker this morning after risk continued to come off the table Friday night, with investors selling off European and US equities as concerns about the Euro debt contagion continued to hinder markets. How much of a fall we are in for is going to be the interesting point this morning following news over the weekend that Ireland has successfully won a $113 Billion bailout as the Euro zone attempts to halt debt crises and put the lingering fears of contagion to rest prior to market open this morning Read more…

Overnight US markets shut due to Thanksgiving holiday. Yesterday we saw our local markets open stronger, only to retreat throughout the session to finish up 9 points to 4593. Star performers were Telstra, up 3.5% closing @ 288 after hitting a high of 295. Read more…

The Dow erased most of its previous session losses overnight as it closed up 150 points just under resistance at 11200. The rally was supported by data out in the US showing jobless claims fell to its lowest level since 2008 and the University of Michigan index of consumer confidence came out better than expected. Jobless claims fell by 34000 to 407000 in the week ended November 20 Read more…

U.S. stocks tumbled Tuesday as investors fretted over the skirmish between North Korea and South Korea, lingering euro-zone debt uncertainty and the Federal Reserve downgrading its U.S. economic projections. Read more…

The SPI is trading lower down 15 points to 4624 points following bearish offshore leads after overseas markets suffered from sovereign debt contagion fears in Europe and the FBI probe into some U.S. hedge funds amid insider trading investigation. Read more…

US markets managed modest gains on Friday night, despite the intraday selling pressure in Asia as the Chinese Government announced that they would lift the reserve ratio requirement for banks by 50 basis points to 18.5% in an effort to slow lending and in doing so cool the economy. Read more…

US stocks climbed over 1 per cent yesterday after an encouraging debut by General Motors, and fears over Ireland’s debt crisis easing on news the Irish government is expected to accept a bailout loan. The Dow Jones Industrial Average closed up 173.35 points, or 1.57%, at 11181.23, marking the blue-chip index’s first gain in three days. Read more…

Our market looks to open fairly flat this morning as we are now hovering just above the 200 day moving average at 4611, a level we have not seen since the 20th of October. The next level of support beyond this level lies at 4560, the lower level of the trading range we saw for the last few months since we broke out earlier this month. Read more…

On the local front today we will see consolidation in the market with the SFE futures suggesting a drop of 61 points. Gold had a soft night, falling $30.1 or 2.2% to 1338.40. Oil also closed lower, down $2.52 or 2.97% to $82.34. Commodities across the board have had another very weak night with a sell down between 5-8%. What this translates to on our market is a sell down across all commodities stocks. BHP,NCM,WPL,FMG,RIO all will be in the spot light, which may lead to a potential buying opportunity. Look at the dips in the market as a time to add to the portfolio.
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