Presented by Michael Hevern
MDS Financial
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General Advice Only
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In this morning s wrap
DOW: up 1.2% – Breakout?
Choppy Trade Ends Higher; US Durables Goods Orders (+3.4%) & New Homes Sales (+4.7%)
NASDAQ: up 0.8%
Uptrend Holding;
IBM Concerns re Job Cuts
FTSE: down 0.3% – Resistance!
Miners and Financials see Profit Taking;
DAX down 1.4% & CAC up 0.7%
NIKKEI: down 0.1%
Manufacturers Sentiment Worst in 30 Years;
Hang Seng down 2%
Oil: down 2.1% – Below $53
US Inventories Up
On Weakening Demand
Gold: up 1.4% ($936) Big Picture
Commodities Mixed;
World Currency
SPI: Critical Levels: 3640 & 3440
SPI up 15;
ASX200 At Resistance
ASX News
* Options Expiry Today
* RIO ACCC approves Chinalco Proposal; FIRB still has 90 days to decide
* Top 200 Rupert tops Rich List 200 (though wealth halved at $3.5bn); Andrew Forrest * No. 2 (wealth down 70%at $2.4bn); Frank Lowry no. 3 ($1.8bn); James Packer ($1.5bn)
* ANZ Aims for Top 4 foreign bank in China
* Energy and Golds to weaken
* Financials to see profit taking
* RBA Glen Stevens talks economy up; Financial Stabilty Review Report today
* ASX to open flat US Mixed
