Australian Stock Report - Market Pulse

Morning Market Analysis: August 23

marketpulse
Publish date: Tue, 23 Aug 2011, 09:42 AM
marketpulse
0 1,810
Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

US and European markets enjoyed positive sessions overnight, clawing back some of the losses booked late last week.

In Europe the FTSE added 1.1%, as did the CAC, whilst the DAX endured a 0.1% decline.

Stateside, the Dow was ahead as much as 150 points at one stage but peeled lower to end 37 points (+0.3%) in the green.

The broader S&P finished largely unchanged whilst the tech-heavy Nasdaq added 0.2%.

A late-session slump in Goldman Sachs wiped out much of the gains recorded up to that point, with the stock falling 4.7% to its lowest price March 2009 after CEO Lloyd Blankfein hired an attorney in relation to a probe of matters raised by the Senate's Permanent Subcommittee on Investigations.

This morning gold has rallied to a new record high above US$1900 an ounce amid mounting concerns that the global economy is faltering.

Gold futures for December delivery gained as much as 1.4% after the New York close, to US$1917.90 an ounce.

Oil also bounced back from recent weakness, adding more than 2% to settle at US$84.42 a barrel.

There is no major local data due out for today's session, although we will hear from RBA Deputy Governor Battellino, commencing at 2:00pm, AEST.

Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment