3 December 2020
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Good News Daily

Despite the headlines, CommSec’s Craig James this week told his regular newsletter readers the following: “Australia can avoid recession in 2009...” That’s right, one of the country’s most respected and most quoted banking economists does not think a recession is a foregone conclusion! 

Inside Markets

A better than expected GDP number did not help Wall Street with concerns that the solutions to the banking crisis are hitting a snag or two in Congress. The idea of a bad bank that takes over the toxic assets of banks is caught between what price will the government pay and who loses — […]

Inside Markets

A positive day on Wall Street followed some steps in the right direction to come up with a better bank rescue plan. There is talk that the mark-to-market rule might be dropped for the banks and this helped bank stocks today. Also the stimulus plan looks like it could be passed next week! The Dow […]

Inside Markets

Wall Street had another nothing day that turned slightly negative when poor corporate earnings carried more weight than better-than-expected economic news. The Dow Jones lost 121 points or 1.5% to 7,956. The Nasdaq dropped 1 point to 1,515. The S&P 500 gave up 6 points to 4,830. Significantly, after hours Cisco reported and beat the […]

Inside Markets

Wall Street again showed that it’s ready to head up but it needs news that gives it confidence that the worst of the US economic and banking crises is behind us. However, the Obama administration is yet to prove its ‘banking fix up plan’ has credibility. That said, talk that the US President is putting […]

Inside Markets

As usual Wall Street did not ride to our rescue and give us new hopes that share prices will start heading in the right direction, but once again we were left with a reason to remain cautiously optimistic. The big watch for this week is President Obama’s promise to give specifics about his mortgage foreclosure […]

Inside Markets

I am quickly becoming an anti-Oprah fan with her presidential pick — Barack Obama and his team — failing Crisis Management 101! His economic stimulus measures will help but his bank rescue plan has been disappointing — and that’s me being fair. The technical charts say the market is going down and only good news […]

Inside Markets

A good day on Wall Street with even retailers reporting a bad December quarter but everyone expected that. Signs of improvement were small but there was enough to send many shares up. In fact most Dow stocks went up. The big trigger was a submission to Congress by the Chairman of the Federal Reserve, Ben […]

Inside Markets

The failure of the US leadership to explain the sufficient details of the bank recapitalisation plan once again disappointed the market but it was not a major drama. After being down early the market went up, but close to the closing bell the market sold off. There’s no conviction either way, but when in doubt […]

Good News Daily

US central bank boss Ben Bernanke had a good day before a Congressional hearing into his actions and came out of the experience with pats on the back from the media. It’s highly likely he will be re-appointed to his job and that’s a good thing. The world does not need a new chum running […]

Inside Markets

The bears were given another lesson on Wall Street with the Dow putting on a 2% gain. And again the US economy has helped the market head upwards. The Dow rose 172.54 points or 2.08% to 8,472.4. The Nasdaq put on 37.20 points or 2.08% to 1,829.54 The S&P 500 added 19.32 points or 2.14% […]

Good News Daily

US durable goods numbers rose three times better than expected and the OECD tipped Australia would roar out of the economic downturn and grow by 2.4% in 2010. 

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