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 10/10 Excellent --- au.biz.yahoo.com http://au.biz.yahoo.com/financenews/htt/air.xml
| Australasian Investment Review ... |
Friday, June 27, 2008 --- 62 days ago http://au.rd.yahoo.com/finance/news/rss/air/*http://au.biz.yahoo.com/080625/27/1
| The market is struggling again today - down 34. Financials recovering a little after yesterdays heavy falls. Resources struggling - down 2.0% - led by the big boys BHP and RIO, both down over 2%. BHP has taken 20 points off the index and RIO 4 points. Fortescue unchanged. The SFE Futures suggested a 53 point fall this morning.Wall Street closed down 35 - Up 62 at best. Down 117 at worst. Financials had a good session for a change - up 1.5% (having been down 2.2%) - Wachovia up 5.56% after they employ Goldmans to & quot;perform analytics on our loans to evaluate various alternatives. & quot; UPS announced a profit warning - down 6.04%- lowers 2Q earnings guidance - cites higher fuel costs. Not great news for the likes of Toll and Brambles. Bonds up on expectation Fed rate will remain unchanged thanks to house prices falling, consumer confidence plummeting, economy sluggish, and extended credit crisis concerns. June consumer confidence down 13% - lowest level since 1992 and Home price index down 15.2% on-year - biggest drop in composite's 8 year history.FOMC meeting underway - statement likely to reveal Fed fund rate unchanged at 2.0%. Some suggest the Federal Reserve should raise rates tonight in the US in what is a case of the lesser of two evils. Much prefer a slowdown due to interest rates then an oil-price led inflationary blow-out.The SFE Futures suggested a 53 point fall in the market.Both BHP and RIO down in ADR form overnight, ... |
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