Sit out and wait
August 8th 2007 13:17
We passed the middle of another trading week with the markets in positive position and in fact, Wednesday was a rather surprising one. The local market climbed up despite the decision by the RBA to raise the interest rate to 6.50% and on top of that, the bank stocks performed well instead of going the other way as history generally shows.
The ASX S&P 200 index rose 1.9% to 6100.8 points.
Is the storm from America over?
The US markets ended in the positive zone after a day of volatility. Nervousness is still in the air. As for Australia, the market seems to have factored in the interest rake hike which could be the reason for its positive performance and on the other hand, the economic outlook for the land down under seems rather bright and to be lead by the miner boys. Thanks to China and India.
Right, that is the general picture of the situation but is the storm over yet?
The consensus reached by the big financial boys as at 7th August 2007 put the US S&P 500 index to gain 7.94%, in contrast with the earlier target of 3.74% surveyed on 23rd July, 2007.
Here is the table produced by Hickey and Walters of Bespoke:
Looks good but it would be prudent to wait out a little more longer to see if the storm is really over yet.
The ASX S&P 200 index rose 1.9% to 6100.8 points.
Is the storm from America over?
The US markets ended in the positive zone after a day of volatility. Nervousness is still in the air. As for Australia, the market seems to have factored in the interest rake hike which could be the reason for its positive performance and on the other hand, the economic outlook for the land down under seems rather bright and to be lead by the miner boys. Thanks to China and India.
Right, that is the general picture of the situation but is the storm over yet?
The consensus reached by the big financial boys as at 7th August 2007 put the US S&P 500 index to gain 7.94%, in contrast with the earlier target of 3.74% surveyed on 23rd July, 2007.
Here is the table produced by Hickey and Walters of Bespoke:
Looks good but it would be prudent to wait out a little more longer to see if the storm is really over yet.
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