Morning Note - US markets bounce again

by James Gerrish

** 01/03/11  - 8.42am  -  by James Gerrish**  
  • The US market continued higher last night after a drop in Oil and some mixed US economic data in which traders decided to focus on the positive 
  • We also saw news that Buffet was ready to pull the trigger got the attention that it deserves as the main news agencies were running with the story throughout the session. 
  • Buffet has a massive market following and for very good reason as well. He's a value investors and given he still sees value in the current market is a real positive for sentiment. 
  • Overnight, the DOW JONES added +95 points or +0.79% to close at 12226. 
  • In LONDON, the FTSE 100 lost -7 points after a cracking session the night before. 
  • SPI FUTURES are pricing in a rise of +20 points this morning
  • Looking locally, the reporting season has now come to a close and I'll be sending around some type of wrap up as the analysis becomes available. 

Disclaimer

James Gerrish is an Authorised Representative (Rep No. 352904) of Shaw Stockbroking Limited ("Shaw Stockbroking"). Shaw Stockbroking is a holder of Australian Financial Services Licence No 236048. Shaw Stockbroking, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.
 

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?