Bernard Hickey details the key news overnight in 90 seconds at 9 am in association with BNZ, including news that US retail sales were stronger than expected after 'Back to School' discounts and the looming expiry of tax holidays boosted consumer spending.
The Dow closed up 50.6 points as investors felt more confident about the economic outlook, boosting the 'riskier' currencies such as the New Zealand dollar, which rose to 71.6 USc.
Meanwhile, the European Central Bank held its official cash rate at 1%.
It also extended its emergency loan facility for European banks until next year.
The special loans are designed to help stressed European banks.
European Central Bank President Jean-Claude Trichet also said it was too early to declare victory in the Global Financial Crisis.
But markets remain pensive ahead of the release tonight of crucial non-farm payrolls figures for the United States, which will give a fresh view on the health of the world's largest economy.
No chart with that title exists.
13 Comments
Hey not sure if anyone's seen this but here's todays funny video:
Click here for vid! OBAMA-MAN-CAN
Who can fix the mortgage?
General Motors too;
a bailout check for me;
and a bailout check for you;
Obama Man can;
'cause he mixes it with Hope;
and makes the world taste good.
Yes Powder........... but Billy Bob has countered with a parry to wrong-foot the facts.
It's the IMF.................You've been a good boy in class award...!!
Have you not seen it ...?..it's been up on three threads in two days....... I'm concerned for
Bernard...........his company may have been infiltrated by Talking Heads.
Chuckle.
Yes, I heard. I thought it was a surprising coincidence that the IMF came out with that just after SCF. I also thought it interesting that the 'liable parent' and 'republic' things surfaced - both relatively non time-dependent items. Interesting to note Cullen involved.
All coincidence, of course. I'm just a conspira-whatsit-theor-thingummy.
There was some very careful orchestration, is my review of the score. Couplea' muffed notes in the cadenza,
The phrase 'get real' comes to mind - and some folk have some way to go.
Bernard will get there, his problem is the 'Kings wonderful suit of clothes'. Has to toe the line to be part of the mainstream, the problem being the mainstream are up the shoot.
I detect a fellow cynic - haveagoodweekend.
And the price of bread will do what?
"The New South Wales Government says the first plague locust nymphs have hatched in the north and central-west, signalling the start to what is predicted to be the state's worst outbreak in 30 years."
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