Presented by Michael Hevern
MDSFinancial
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General Advice Only
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In this morning s wrap
DOW: down 1.2% – Well Below 10,000
US Home Sales Surprise to Downside;
Broad Selloff; Given Back October Gains
Dollar Index: Finds Support
US$ Bounces Off 14 Month Lows;
A$ flat to 89.74
FTSE: down 2.3% (Well Off 13 Month High)
Banks & Materials Weigh; BG Profit 3Q Down 44%
DAX down 2.5% & CAC down 2.1%;
CHINA: up 0.3%
China Sovereign Fund has US$110bn to Spend
Hang Seng down 1.8%;
Oil: down 2.8% ($77)
Oil Falls With Markets
Gold: down 0.5% ($1028)
Commodities Lower;
Dollar Up
SPI Futures down 80 points (-1.7%)
Pullback Confirmed;
Three Week Lows on Inflation Concerns
ASX News
NAB FY Profit down 43%; Bad Debt up 14%
BLD 2009 could be bottom for housing
SUN to retain banking unit
CPI 3Q CPI up 1% -> RBA rates to rise 0.25%
Banks Annual results: ANZ Thu; MQG Fri
Materials, Energy & Bank all to see selling
ASX to open lower
US & UK October Bogie Grabs the Markets
Tags: ASX News, BHP, Crude Oil, Dow, spi, stock market, stockmarket
