Monthly Archives: January 2011
Fears in Egypt lead to switch out of risk assets
Global markets sold off heavily on Friday night as 4th quarter GDP data in the US was revised lower, showing the US economy growing at 3.2% which was lower than the forecast 3.7%, but the big concern was the ongoing political unrest in Egypt which brought heavy selling in risk assets like Stocks and strong buying in traditional safe havens like Gold during the session. Read more…
Mixed reports see markets close flat
The Dow closed marginally flat up just 4 points after a choppy session reaching a high of 12,019 points early in the session. Gold was down over 1% and Oil 2%. Read more…
Dow breaks 12000 on Fed’s second wave of asset buying
The Dow broke through 12000 overnight, just closing up 8 points after news that the Federal reserve will maintain its $600 billion stimulus measure and new homes sales beat estimates. As the US economy fails to grow at a faster pace, the Fed will continue measures to reduce its unemployment rate and maintain low interest rates. Read more…
Mixed leads move market higher
Wall Street rallied overnight amid rising optimism for US earning results amid a pro-business State of the Union address by President Obama. Investors lifted the Dow closer to the 12,000 level pushing the Dow up 108 points to 11,980 while the S&P 500 rallied 1 percent to 1290 points. Read more…
Mixed offshore leads point to modest gains
US and European markets managed to gain on Friday night, but ended the week lower for the first time in 2011 as some disappointing earnings, broad based weakness in Base metals and Inflationary concerns both in Europe and Asia weighed on investor confidence. Read more…
Renewed concerns of China’s economy overheating.
The Dow closed relatively flat down just 2 points after an early moring sell off, reaching a high of 11,845 points late in the session before closing at 11,823. The rebound was driven by rallies from Morgan Stanley, Home Depot Inc and builders due to better than expected earnings results, helped along by the flow of funds away from US Treasuries. Read more…
Market awaits Chinese inflation data, BHP reports results
The Dow closed slightly lower overnight despite making a new high at 11861 in a narrow trading range. Pushing the market lower was disappointing Goldman Sachs profit results as well as lower than expected housing starts Read more…
Market ready for a move higher
U.S. stocks hit multi-year highs on Tuesday as investors shrugged off slides in Apple and Citigroup while material shares gained on data confirming manufacturing strength Read more…
Limited offshore leads point to quiet start
The Australian market is likely to open unchanged in a quiet session as the US was closed last night. Read more…
Mixed data keeps markets buoyant
US Markets climbed from the open on Friday night, despite weakness in the Euro zone on the back of an announcement out from Tesco, the fourth largest retailer in the world which saw very weak Christmas sales, the announcement weighed … Read more…