3 minute markets update

Listen to BT Chief Economist Chris Caton and our portfolio managers as they deliver a 3 minute market update - the quickest way to stay up-to-date with market movements. Check regularly for updates to this page or subscribe to them.

2012
May 2012
  • Chris Caton's 17 May 2012 update
    17 May 2012
    A little more red ink but nothing too serious - FTSE -0.6%, DAX -0.3%, S&P -0.4%, Dow -0.3%.
    Listen to podcast (5:04) Read transcript

  • Chris Caton's 16 May 2012 update
    16 May 2012
    We'll fall -0.7% today. US retail sales and business inventories rose but it was another rough night - FTSE -0.5%, DAX -0.8%, S&P -0.6%, Dow -0.5% - still all about Greece failing to form a government. Dow lowest since 31 Jan.
    Listen to podcast (3:34) Read transcript

  • Chris Caton's 14 May 2012 update
    14 May 2012
    We'll be unchanged this morning. Europe up slightly : FTSE +0.6%, DAX +0.9%; US market started poorly because of JP Morgan's massive trading loss and didn't recover: S&P and Dow -0.3%, resulting in a second successive losing week.
    Listen to podcast (3:28) Read transcript

  • Andrew Dowie's 11 May 2012 update
    11 May 2012
    Another reassuring initial jobless claims report: concensus was for 368,000 actual was 367,000.
    Listen to podcast (4:51) Read transcript

  • Andrew Dowie's 10 May 2012 update
    10 May 2012
    Inventories for March +0.1, half of concensus, in line with recent patterns.
    Listen to podcast (1:57) Read transcript

  • Chris Caton's 8 May 2012 update
    8 May 2012
    We may recover 1/3 of yesterday's losses after a quiet night, which was a good result - there were fears that Monday was the first opportunity for markets to respond to French election result and the Greek election non-result. DAX +0.1%, Bourse +1.7%, S&P flat, Dow +0.2%
    Listen to podcast (5:20) Read transcript

  • Chris Caton's 7 May 2012 update
    7 May 2012
    A weak start today (-1%) after a rough night due to a perceived weak employment report in the US - FTSE -1.9%, DAX -2%, S&P -1.6% (-2.5% for the week), Dow -1.3% (-1.5% for the week).
    Listen to podcast (5:25) Read transcript

  • Andrew Dowie's 4 May 2012 update
    4 May 2012
    Initial jobless claims had largest weakly decline for a year; 4 week average up 1,000. Preliminary non-farm productivity 0.5% annualised contraction, almost on concensus.
    Listen to podcast (5:37) Read transcript

  • Andrew Dowie's 3 May 2012 update
    3 May 2012
    ADP April employment publication lacklustre, showing manufacturing shed 5,000 jobs.
    Listen to podcast (3:44) Read transcript

  • Chris Caton's 2 May 2012 update
    2 May 2012
    Up +0.4% at the start to recover from yesterday's RBA rate rise after a positive night, up everywhere - FTSE +1.3%, Dow +0.5%, S&P +0.6% - all due to 10am National purchasing managers index showing a 1.4 point rise.
    Listen to podcast (5:10) Read transcript

  • Chris Caton's 1 May 2012 update
    1 May 2012
    We'll be down slightly after a soft night. US market ended 4 day streak with slight falls nad Europe saw FTSE -0.7%, DAX -0.6% due to a reported decline in Spain's GDP.
    Listen to podcast (5:42) Read transcript

April 2012
  • Chris Caton's 30 April 2012 update
    30 Apr 2012
    We'll be +0.5% on the start even though AUD is down to USD1.04. Another up night - FTSE +0.5%, DAX +0.9%, S&P & Dow +0.2%; for the week: S&P +1.8%, Dow +1.5% - US economy is growing steadily but below trend.
    Listen to podcast (5:05) Read transcript

  • Chris Caton's 27 April 2012 update
    27 Apr 2012
    We'll start +0.4% after another good night Europe +0.5%, S&P +0.7%, Dow +0.9% - despite mixed economic news.
    Listen to podcast (2:22) Read transcript

  • Chris Caton's 26 April 2012 update
    26 Apr 2012
    Second positive night in a row - FTSE +0.2%, DAX +1.7%, S&P +1.4%, Dow +0.7% - Apple reported good earnings and Bernanke hinted at future FOMC support for the economy as required.
    Listen to podcast (4:51) Read transcript

  • Chris Caton's 23 April 2012 update
    23 Apr 2012
    Good UK retail sales data saw Europe higher - FTSE +0.5%, DAX +1.2%, S&P +0.1%, Dow +0.5 (for the week +0.6% & +1.4%).
    Listen to podcast (4:19) Read transcript

  • Andrew Dowie's 20 April 2012 update
    20 Apr 2012
    Andrew Dowie reviews the latest data releases in the US, including April's jobless claims figures, and the Philly Fed report.
    Listen to podcast (5:14) Read transcript

  • Chris Caton's 19 April 2012 update
    19 Apr 2012
    Markets generally took back some of yesterday's gain, despite no economic news - FTSE -0.4%, DAX -1%, S&P -0.4%, Dow -0.6%
    Listen to podcast (3:26) Read transcript

  • Chris Caton's 18 April 2012 update
    18 Apr 2012
    We'll be +1.3% today with markets up all over the world - -FTSE +1.8%, DAX more that +2%, S&P +1.6%, Dow +1.5% - as the IMF lifted its economic forecast and the Spanish debt auction went well.
    Listen to podcast (3:48) Read transcript

  • Chris Caton's 17 April 2012 update
    17 Apr 2012
    We'll start +0.3% as markets were up slightly, not bad as there's lingering concern about Spain - FTSE +0.3%, DAX +0.6%, S&P flat, Dow +0.6% with a slew of mixed economic data.
    Listen to podcast (3:08) Read transcript

  • Chris Caton's 16 April 2012 update
    16 Apr 2012
    Friday the 13th lived up to reputation as markets fell everywhere - FTSE -1%, DAX -2.4%, S&P -1.2%, Dow -1% - overall the worst week for the year so far. Australian Futures Index at -0.7%
    Listen to podcast (5:08) Read transcript

  • Chris Caton's 13 April 2012 update
    13 Apr 2012
    An ominous day but less concern about China and Europe saw European markets up more than 1%, S&P & Dow +1.4%.
    Listen to podcast (5:06) Read transcript

  • Chris Caton's 12 April 2012 update
    12 Apr 2012
    The first up day in quite some time - FTSE +0.7%, DAX +1%, S&P & Dow +0.7% - as the Italian bond auction went well, and concerns about Spain diminished.
    Listen to podcast (3:40) Read transcript

  • Chris Caton's 11 April 2012 update
    11 Apr 2012
    We'll start -1.25%, it was pretty ugly again, Europe significantly down - FTSE -2.2%, DAX -2.5%, SPA -3%, ITA -5% - First response to US payroll news from last week and lingering concern about Spain. US followed suite - S&P & Dow -1.7%, NASDAQ -1.8% - 5th successive down day in the US.
    Listen to podcast (3:00) Read transcript

  • Chris Caton's 10 April 2012 update
    10 Apr 2012
    We'll be down 0.5% at the opening. European markets were closed but in the US the March employment report was disappointing - S&P -1.1%, Dow -1%.
    Listen to podcast (3:14) Read transcript

  • Chris Caton's 5 April 2012 update
    5 Apr 2012
    Carnage everywhere due to a poor Spanish debt auction - FTSE -2.2%, DAX -2%, S&P -1%, Dow -0.9% - 27 of the 30 stocks in the Dow fell.
    Listen to podcast (4:28) Read transcript

  • Chris Caton's 4 April 2012 update
    4 Apr 2012
    Market down everywhere - FTSE -0.6%, DAX -1%, S&P -0.4%, Dow -0.5% - the Spanish budget was heavily cut and in the US the FOMC minutes drove markets down.
    Listen to podcast (4:05) Read transcript

  • James Kerr's 2 April 2012 update
    3 Apr 2012
    European and us equities rose overnight, commodities reversed earlier loses and oil rallied. RBA rates are expected to remain unchanged today.
    Listen to podcast (2:59) Read transcript

  • Chris Caton's 2 April 2012 update
    2 Apr 2012
    We'll start +0.6% after US Consumer spending rose 0.5% in February, expected to be 2.5% for Q1. FTSE +0.5%, DAX +1%, S&P +0.4%, Dow +0.5% - Dow is +8.1% for Q1 and the S&P is +12%.
    Listen to podcast (4:10) Read transcript

March 2012
  • Chris Caton's 30 March 2012 update
    30 Mar 2012
    Not much of a night but Europe fell nonetheless - FTSE -1.1%, DAX -1.8%, Dow +0.2%, S&P -0.1% - US fell due to jobless claims being revised upwards, 355,000 to 368,000, then recovered.
    Listen to podcast (2:55) Read transcript

  • Chris Caton's 29 March 2012 update
    29 Mar 2012
    We'll start -0.5% with the AUD down to 1.039USD. A softish night, more in Europe than the US, as oil prices fell. FTSE -1%, DAX -1.1%. US opened square, faded then recovered; S&P and Dow -0.5%, but durable goods orders rose 2%, weaker than expected.
    Listen to podcast (2:46) Read transcript

  • Chris Caton's 28 March 2012 update
    28 Mar 2012
    After the solid rise, markets marked time. FTSE -0.6%, DAX flat, US flat all day and dived at the end: Dow & S&P -0.3%. We should open down.
    Listen to podcast (3:01) Read transcript

  • Chris Caton's 27 March 2012 update
    27 Mar 2012
    We'll start +1% after a significant amount of green ink due to Bernanke's speech on the labour market - FTSE +0.8%, DAX +1.2%, S&P +1.3%, Dow 1.2%.
    Listen to podcast (3:04) Read transcript

  • Chris Caton's 26 March 2012 update
    26 Mar 2012
    Futures index says we'll be off 0.3%. Mildly positive on Friday but not much reason for it - FTSE & DAX +0.2%, Dow & S&P +0.3% but down for the week.
    Listen to podcast (2:51) Read transcript

  • Chris Caton's 23 March 2012 update
    23 Mar 2012
    AUD dow to 103.9 US cents and markets wil lbe down. Softish news, perhaps worse - FTSE -0.8%, DAX -1.3%, S&P -0.7%, Dow -0.6% - the second down week of the year.
    Listen to podcast (3:00) Read transcript

  • James Kerr's 22 March 2012 update
    22 Mar 2012
    Markets with little catalyst for movement; Europe down slightly, US mostly flat, AUD flat.
    Listen to podcast (2:15) Read transcript

  • James Kerr's 21 March 2012 update
    21 Mar 2012
    Equities markets weaker while US housing data were mixed. AUD fell over a cent to 1.048USD.
    Listen to podcast (2:08) Read transcript

  • James Kerr's 20 March 2012 update
    20 Mar 2012
    UK housing sentiment slowly improving, industrial moementum increasing in Europe. European markets were mixed while S&P +0.4% higher.
    Listen to podcast (1:51) Read transcript

  • Chris Caton's 19 March 2012 update
    19 Mar 2012
    We could still open up despite a day of small gains - FTSE +0.4%, DAX+0.2%, S&P +0.1%, Dow -0.1%, both US indices up by 2.4% for the week.
    Listen to podcast (5:16) Read transcript

  • Chris Caton's 16 March 2012 update
    16 Mar 2012
    We should start +0.5% as markets made some progress due to manufacturing and employment indices being positive. FTSE -0.1%, DAX +0.9%, S&P +0.6% (above 1400 points), Dow +0.5%.
    Listen to podcast (4:11) Read transcript

  • Andrew Dowie's 15 March 2012 update
    15 Mar 2012
    Fourth quarter current account deficit $10M over concensus, largest for three years due to improving job market.
    Listen to podcast (5:34) Read transcript

  • Andrew Dowie's 14 March 2012 update
    14 Mar 2012
    February retail sales +1.1%, bang on concensus, the strongest figure for five months. January figure revised up from +0.4% to +0.6% Other indicators up as well.
    Listen to podcast (5:34) Read transcript

  • Chris Caton's 13 March 2012 update
    13 Mar 2012
    We'll open +0.3%, AUD weakened to 1.05USD. FTSE +0.1%, DAX +0.3%, Dow +0.3%, S&P flat, having been down most of the morning. Not a lot happened except a large trade deficit for China.
    Listen to podcast (2:48) Read transcript

  • Chris Caton's 12 March 2012 update
    12 Mar 2012
    We'll open +0.1%, AUD = 1.057USD. FTSE +0.5%, DAX +0.7%, S&P +0.4%, Dow +0.1% Markets made marginal forward progress with the Greek situation pushing credit markets down but the very strong US employment figures pushed them back up.
    Listen to podcast (5:52) Read transcript

  • Andrew Dowie's 9 March 2012 update
    9 Mar 2012
    Initial jobless claims : weekly claims and for week average increased but the jobless rate is estimated to stay at 8.3%.
    Listen to podcast (0:51) Read transcript

  • Andrew Dowie's 8 March 2012 update
    8 Mar 2012
    ADP Employment survey 216,000, pretty close to the concensus 215,000 and all sectors were strong. This is what the recovery should look like!
    Listen to podcast (3:56) Read transcript

  • Andrew Dowie's 6 March 2012 update
    6 Mar 2012
    February Non-manufacturing ISM - consensus: 56.0 (-0.8); actual: 57.3 (+0.5) - strongest since last February.
    Listen to podcast (5:14) Read transcript

  • Chris Caton's 5 March 2012 update
    5 Mar 2012
    All of a sudden, nothing happened: FTSE & DAX -0.3%, S&P -0.3%, Dow flat. Futures Index suggests we'll open down 3 or 4 tenths.
    Listen to podcast (3:14) Read transcript

  • Chris Caton's 2 March 2012 update
    2 Mar 2012
    We'll be up by 0.5% at the opening after Europe went up more than 1% while the US chopped and changed, but ended up: S&P +0.6%, Dow +0.2%. Jobless claims fell again, Manufacturing Purchasing Managers index fell in January, and consumer spending only up slightly.
    Listen to podcast (3:03) Read transcript

  • Andrew Dowie's 1 March 2012 update
    1 Mar 2012
    US fourth quarter GDP revised up from 2.8% to 3% and Chicago publications very encouraging.
    Listen to podcast (4:20) Read transcript

February 2012
  • Chris Caton's 29 February 2012 update
    29 Feb 2012
    We'll be up 0.3% at the opening after another mildly positive night, Europe marking time, waiting to hear the size of the LTRO programme: FTSE +0.2%, DAX +0.6%, Bourse +0.4% The mood was followed in the US: S&P +0.3%, Dow +0.2% above 13,000 for the first time in a long time.
    Listen to podcast (4:00) Read transcript

  • Chris Caton's 28 February 2012 update
    28 Feb 2012
    Another boring report: Europe down slightly - FTSE -0.3%, DAX -0.2%. US markets fell early but rallied - S&P +0.1%, Dow flat.
    Listen to podcast (2:54) Read transcript

  • Chris Caton's 27 February 2012 update
    27 Feb 2012
    We will open close to flat after a bit of a nothing night on Friday, but there was some action in Europe and some positive news in the US. DAX +0.8%, Bourse +0.6%, S&P +0.2%, Dow flat.
    Listen to podcast (4:07) Read transcript

  • Chris Caton's 24 February 2012 update
    24 Feb 2012
    AUS market likely to be up today with positive news, but not much - FTSE +0.4%, DAX -0.5%, Dow & S&P +0.4% - US jobless claims flat but at a low level and the four week average at its lowest since March 2008.
    Listen to podcast (3:24) Read transcript

  • Andrew Dowie's 23 February 2012 update
    23 Feb 2012
    January existing home sales +4.3% (concensus: +1.1%). +3.8% houses, +8.3% flats. Why? Median price -4.6% in the month and lending is increasing.
    Listen to podcast (2:42) Read transcript

  • Andrew Dowie's 22 February 2012 update
    22 Feb 2012
    The Chicago Fed National Activity Index for January came in at .22, right on concensus.
    Listen to podcast (0:39) Read transcript

  • Chris Caton's 20 February 2012 update
    20 Feb 2012
    We'll start +0.1% after a quiet session on Friday, but positive sentiment about Greece saw markets slightly higher. DAX +0.4%, FTSE +0.3%, SP +0.2%, Dow +0.4% For the week, SP +1.4%, Dow +1.2%. AUD is at 1.071USD.
    Listen to podcast (3:18) Read transcript

  • Andrew Dowie's 17 February 2012 update
    17 Feb 2012
    US jobless claims lowest since March 2008 - 348,000 - and housing starts up 1.15%. Manufacturing up and the PPI headline weaker than, but the core metric above, concensus.
    Listen to podcast (6:40) Read transcript

  • Chris Caton's 16 February 2012 update
    16 Feb 2012
    The Futures index suggests we will be down -0.75% with the AUD at 1.069USD. Markets generally down with more concern about Greece's bailout package not being passed until the April election. S&P -0.5%, Dow -0.75%
    Listen to podcast (3:34) Read transcript

  • Andrew Dowie's 15 February 2012 update
    15 Feb 2012
    US January retail sales +0.4% fell shy of +0.8% forecast but skewed by a 1.1% fall in car sales. Otherwise, the first quarter is looking good.
    Listen to podcast (4:20) Read transcript

  • Chris Caton's 14 February 2012 update
    14 Feb 2012
    Hello, young lovers! Our Futures index is flat but markets breathed a sign of relief as the Greek austerity measures were passed by their parliament - FTSE +0.9%, DAX +0.7%, S&P +0.7%, Dow +0.6%. AUD is now 1.073USD.
    Listen to podcast (3:10) Read transcript

  • Chris Caton's 13 February 2012 update
    13 Feb 2012
    We'll be down 0.5% Monday morning after a poor day, the US had its worst fall for the year (-0.7%) - S&P -0.2% and Dow -0.5% for the week, the first neagtive week of the year.
    Listen to podcast (5:00) Read transcript

  • Andrew Dowie's 10 February 2012 update
    10 Feb 2012
    The first real news for a week: jobless claims down 50,000 claimants - 358,000, below concensus of 370,000 - the lowest since April 2008; surplus wholesale inventories +1%, higher than the concensus +0.3%.
    Listen to podcast (2:25) Read transcript

  • Andrew Dowie's 3 February 2012 update
    3 Feb 2012
    Tonights Jan unemployment rate is forecast to remain unchanged at 8.5% close to a 3 year low. Business sector productivity slowed in the 4th Qtr but will likely see increased demand for new workers.
    Listen to podcast (2:15) Read transcript

  • Andrew Dowie's 2 February 2012 update
    2 Feb 2012
    In the US there was improvement in January's PMI report but a decline in the productivity index. Overlall however, a postitve start to the year with 9 out of 18 industries surveyed reporting growth.
    Listen to podcast (3:50) Read transcript

  • Andrew Dowie's 1 February 2012 update
    1 Feb 2012
    In the US the November Case-Schiller prices was down 0.7% down it was the the third consecutive month of average price falls. Last night also saw the release of the Jan Consumer Confidence Report dropped to 61.1% from Dec 64.8%.
    Listen to podcast (3:53) Read transcript

January 2012
  • Chris Caton's 30 January 2012 update
    30 Jan 2012
    It was another mediocre night with the DAX slightly up and the FTSE slightly down, S&P -0.2% DOW -0.6% Some mildly disapointing news in the US with softer GDP and consumer spending than expected.
    Listen to podcast (4:03) Read transcript

  • Chris Caton's 27 January 2012 update
    27 Jan 2012
    FTSE +1.3% DAX +1.5% S&P -0.6% DOW -0.2% Markets higher than 2 days ago. The US FED meeting left interest rates unchanged but a historic change with the first ever publication of interest rates projections. Australian market close to flat today with AUD 1.06 USD.
    Listen to podcast (4:55) Read transcript

  • Chris Caton's 25 January 2012 update
    25 Jan 2012
    Quiet night, a little negative, FTSE -0.5% DAX -0.3% S&P -0.1% DOW -0.3% AUD 1.0475US4 CPI results for the last Dec quarter out today and in the US, President Obama gives his State of the Union address and the Federal Open Market Committee releases its statement. Our market is closed tomorrow, so next podcast on Friday.
    Listen to podcast (4:46) Read transcript

  • Chris Caton's 24 January 2012 update
    24 Jan 2012
    A directionless night with no US economic data to drive markets. Focus on Greek debt with meeting of Euro finance ministers on proposed 2nd bailout package worth 130bn Euros. FTSE +0.9% DAX +0.05% S&P flat DOW -0.01% and AUD at US1.054
    Listen to podcast (3:28) Read transcript

  • Chris Caton's 23 January 2012 update
    23 Jan 2012
    It was a non-volatile night which is a bit of a change. Since last August there have been 33 volatile days where the market moves more than 2%. Quiet on the European front FTSE DAX -0.2% and the US market strangely mixed S&P +0.1% Dow +0.8%
    Listen to podcast (5:21) Read transcript

  • Andrew Dowie's 20 January 2012 update
    20 Jan 2012
    A busy night of economic releases, and mostly positive - jobless claims dropped 50,000 (concensus was for -15,000), the lowest print since April 2008.
    Listen to podcast (5:58) Read transcript

  • Chris Caton's 19 January 2012 update
    19 Jan 2012
    Futures index +0.7% and AUD at 1.042USD after another up night - FTSE +0.2%, DAX +0.4%, S&P +1.1%, Dow +0.8% - the IMF plans to fill a trillion dollar gap and the US NAHB housing index jumped to 25, highest since June 2007.
    Listen to podcast (5:00) Read transcript

  • Chris Caton's 18 January 2012 update
    18 Jan 2012
    Futures index down slightly despite good overseas results - FTSE +0.6%, DAX +1.7%, S&P +0.4%, Dow +0.5% - the Chinese markets had a year to 4th quarter growth of 8.9% and the Empire State Survey of Manufacturing was up to 13.5 from 8.2 in December. AUD is now 1.037USD.
    Listen to podcast (2:50) Read transcript

  • Chris Caton's 17 January 2012 update
    17 Jan 2012
    We should open up this morning after Europe had a good night and the US debt downgrade on Friday didn't affect borrowing - DAX +1.4%, Bourse +0.9%
    Listen to podcast (2:55) Read transcript

  • Andrew Dowie's 16 January 2012 update
    16 Jan 2012
    US November trade balance figures widening - tangible evidence that Eurozone is starting to affect US economy.
    Listen to podcast (2:57) Read transcript

  • Chris Caton's 13 January 2012 update
    13 Jan 2012
    A fairly quiet session, US had soft economic data but in Europe bond auctions went well in Spain & Italy - FTSE -0.2%, DAX +0.4%, SP +0.3%, Dow +0.2%
    Listen to podcast (4:09) Read transcript

  • Andrew Dowie's 12 January 2012 update
    12 Jan 2012
    The US economy improved across all regions due to consumer spending.
    Listen to podcast (1:19) Read transcript

  • Chris Caton's 11 January 2012 update
    11 Jan 2012
    We should open up 0.5% as there was decreased pessimism about Europe & expectations around China's moentary policy - FTSE +1.5%, DAX +2.4%, S&P +0.9%, Dow +0.6%
    Listen to podcast (2:40) Read transcript

  • Chris Caton's 10 January 2012 update
    10 Jan 2012
    Our Futures Index +0.5% though there was not a lot to report - FTSE & DAX -0.2%, S&P +0.2%, Dow +0.3% - Merkel & Sarkozy met and agreed to speed up measures to improve the Eurozone economy.
    Listen to podcast (3:40) Read transcript

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Disclaimer and Disclosure

These commentaries cover technical themes and are designed to provide a snapshot of current financial markets. If you are an investor we recommend you speak with a financial adviser before making any investment decisions.

These commentaries have been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation and needs.

This information has been prepared and issued by BT Funds Management Limited ACN 002916458. While the information contained in these updates has been prepared with all reasonable care, no responsibility or liability is accepted for any errors or omissions or misstatement however caused. All forecasts and estimates are based on certain assumptions which may change. If those assumptions change, our forecasts and estimates may also change.