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Inside Markets

Inside Markets

Switzer Daily
19 June 2009

The good news is coming thick and fast erasing most of the losses on US markets for the first day of the trading week. The Yanks closed up over 3% before the Easter break on great news out of Wells Fargo and this was reinforced by Goldman Sachs reporting better than expected early this morning our time.

The Dow was down 25 points or 0.3% to 8,057.
 
The Nasdaq was unchanged at 1,653.
 
The S&P 500 was up 2 points to 858.

This is a big week for reporting with Intel, GE and Citigroup to show and tell their results. Industrial Output, retail and housing data will also be released.

This rally is so strong, there would be those looking for reasons to take profit and so all info on the economy and companies will be looked at closely. Also the report on the stress tests on US banks is out later this week. This also could be a market mover.

Here we get the NAB Business Survey, lending figures and the latest RBA Bulletin. That said, the main game is in the USA. By the way, the Volatility Index or Fear Index has fallen under 40 for the first time in a long time. This is a good sign.

The Oz dollar, another good indicator is also up 73.17 US cents.

Have a great week,

Peter 

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