Lighthouse Morning Market Wrap – Bears attack again

Not such a good night for risk Not a good night for risk assets and markets as we slid toward the EU summit. US Stocks were down early with JP Morgan in particular under pressure after a New York Times article said that the losses arising from the recent trading problems could be as high […]

Lighthouse Morning Market Wrap – Thank goodness for US data

Thank goodness for US Data US Data continues to be the key thing between a full-blown risk retreat in the run up to the EU Summit tonight and tomorrow. Overnight we saw the first rise in durable goods for 3 months posting +1.1% in May with machinery and defence orders driving the overall increase. Pending […]

Chinese equities join the party

I was watching the moves in the Shanghai composite index yesterday, or should I say the lack of move and wondering why the ASX 200, the Hang Seng and even the Nikkei were roaring higher but the Shanghai composite was lagging. It really was most intriguing given that the Shanghai market was sitting at its lowest […]

Europe edging closer to a solution – at least I hope so.

Congratulations to the All Blacks who got the monkey off their back with a hard-fought win over France at the Rugby World Cup over night. Lets hope that the French with their European team mates can go all the way this week with some sort of resolution to the crisis. But there is no magic […]

What’s driving this volatility? Uncertainty rising.

A better, although volatile, night’s trade after the concerns about German Chancellor Merkel holding here coalition together for the ratification of the old Greek deal evaporating in an overwhelming vote for the passage of the aid for Greece. The DAX was up 1.1%, CAC up 1.07% but the FTSE fell 0.4%. The Dow and S&P 500 […]

ASX 200 – 3848 the key level.

I mentioned earlier this morning that the ASX 200 hadn’t gone anywhere for 5 or 6 years but I also mentioned that markets on Monday had bounced off important level. What I negated to mention in this morning’s piece, which an email from an old friend Shane alerted me to, was that the ASX 200 had […]

Snapback – Markets bounce but is it sustainable

The bipolar nature of markets is hard to fathom at present, although we have a go below. Overnight we saw the Dow up 1.33% and the S&P 500 up 1.07% but they were off their highs for the day. In Europe it was a stellar night with the DAX up 5.29%, the CAC up 5.74% and the […]