CMC Markets Weekly Report

ASIC has banned the covering of short selling of any and all listed shares following similar moves in the US and a number of other countries. ASIC believes this is necessary to “maintain fair and orderly markets in these exceptional times”.

The SPI was up 133 and global markets rallied fast on Friday, the Dow ended up almost 4% higher and the S&P 500 was up almost 4.5% by the final bell.

Australian motor vehicle sales for August is scheduled for Monday and this is likely to confirm the economy is slowing, while a score of stocks trade ex dividend including Billabong, Bluescope, Newcrest, and Oil Search.

On Tuesday we start with UK housing prices, The Chicago national account index and NZ consumer confidence.

On Wednesday we have the ASX AGM as well as a number of dividends – and David Jones full year results.

Thursday we have US existing home sales and the European current account, NZ current account and the RBA's semi annual financial stability review.

Friday we have US durable goods and August new home sales as well as Japan CPI and Australian HIA new home sales for August.