It's getting hard to believe in Santa
Friday's sharp fall in US markets, leaves the strong gains earlier in the week looking like just another episode in the volatile range trading that has characterised markets over recent weeks. Hopes that a year-end rally was getting under way have been dashed.
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter your SMS code' }}
A text message with your verification code was just sent to {{user.DayPhone}}
We cannot send you a code via SMS to {{user.DayPhone}}
Hi {{ user.FirstName }}, please provide your mobile number.
{{ content.trialHeading.replace('{0}', user.FirstName) }}
We'll send you a text message with a verification code to start your free {{ '0' == '1' ? 'Eureka Report' : 'Intelligent Investor' }} 15-day trial.
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Eureka Report 15-day free trial
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Indepth analysis of ASX listed shares
- BUY, Hold and Sell Recommendations
- Ideas Lab
- Special Reports
- Alan Kohler’s Weekend Briefing
- Interviews with CEO’s & top influencers
- Money Cafe and Talking Finance
- Super Advice and Q&A with Ask Alan
Friday’s sharp fall in US markets, leaves the strong gains earlier in the week looking like just another episode in the volatile range trading that has characterised markets over recent weeks. Hopes that a year-end rally was getting under way have been dashed. Even if it does materialise, any year-end rally may be just more range trading, rather than the beginning of a concerted push above resistance.
Friday’s sell-off underscores the difficulty the US stock market currently has in playing its traditional role as leader of world market rallies. US valuations are full already. This makes the US market vulnerable to risk off moves. Gains from current levels are also likely to be more a case of grinding higher in line with earnings growth as opposed to trending strongly higher on valuation expansion.
European markets are likely to be focussed on the results of the Spanish election. Early indications that Spain will be governed by an unwieldy coalition will increase the political risk to markets from this pivotal European economy.
The local market is in for a nervous start to the week. However, indications are that the ASX200 index will remain inside Thursday’s range. This will continue Friday’s pattern of consolidation as opposed to indicating a major reversal at this stage.
The weekend news for commodities was mixed. Oil prices were weaker, however iron ore has remained firm in recent days and copper jumped sharply on the possibility that China will increase inventory levels.
News that all 163 nations in the WTO have agreed to end agricultural subsidies may be supportive for Australian agricultural exporters in the longer term. However, the devil may be in the detail of how some nations get around this deal. Even so, the WTO agreement is a sign that attitudes toward liberalising agricultural trade are headed in the right direction and follows positive news for the sector from recent free trade agreements.
