SCOREBOARD: Risk recoil

Wall Street turned down sharply overnight, but the weaker US dollar failed to stir commodity prices.

Risk off last night and falls across equities and commodities were quite solid. As best I can tell, it’s not so much the case that there was any really disastrous news out last night. Indeed if anything it was the opposite with US wholesale sales up 0.5 per cent and inventories up 0.2 per cent. Now this isn’t a tier one indicator and I’m not suggesting for one minute that it should be market moving - but is does add to the generally positive tone coming of the US at the moment. This data is showing solid sales growth and the fact that inventories are rising in tandem tells us that wholesalers are feeling positive about the outlook. Add to that a small business survey showing business feeling more optimistic. It seems to me that we’re just seeing a bit of heat coming out of the market after a strong rally into the end of last week. Oh and central banks are causing all sorts of havoc of course.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles