3 minute markets update

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2013

May 2013

Chris Caton's 23 May 2013 update
23 May 2013
We'll be down; down in US, up in EU - FTSE +0.5%, DAX +0.7%, Dow -0.5%, S&P -0.8% - FOMC minutes highlighted that the recovery may be slowing and Bernanke saying they are open to changing the QE rate, EU markets didn't see the late fall in US.
Listen to podcast (3:29) Read transcript
Chris Caton's 22 May 2013 update
22 May 2013
We may start down despite US rise (FTSE +0.7%, DAX +0.2%, Dow +0.3%, S&P +0.2%) due to St Louis Fed's chief James Bullard supporting quantitative easing.
Listen to podcast (2:18) Read transcript
Chris Caton's 20 May 2013 update
20 May 2013
US consumer cofidence index highest since July 2007 - pre-GFC - Dow +0.8, S&P +1%, FTSE +0.5%, DAX +0.3%
Listen to podcast (3:45) Read transcript
Chris Caton's 17 May 2013 update
17 May 2013
We'll start flat. Europe did nothing but US fell: Dow -0.3%, S&P -0.5% as jobless claims rose and housing starts fell 16%.
Listen to podcast (2:44) Read transcript
Chris Caton's 16 May 2013 update
16 May 2013
US industrial production fell 0.5% but home building rose, cheering markets: FTSE +0.1%, DAX +0.3%, Dow 0.4%, S&P 0.5%
Listen to podcast (2:51) Read transcript
Chris Caton's 15 May 2013 update
15 May 2013
We'll start well as we survived the budget and overseas markets were higher: FTSE +0.8%, DAX +0.7%, SP +1%, Dow +0.8%
Listen to podcast (3:57) Read transcript
Chris Caton's 14 May 2013 update
14 May 2013
Almost nothing happened despite retail sales +0.1%, held down by falling gasoline prices. FTSE +0.1%, DAX flat, S&P flat, Dow -0.2%
Listen to podcast (3:32) Read transcript
Chris Caton's 13 May 2013 update
13 May 2013
We'll start +0.2% with the AUD at USD1.002 - falling below parity briefly on Friday - FTSE +0.5%, DAX +0.2%, SP +0.4% (+1.2% week), Dow +0.2%
Listen to podcast (3:42) Read transcript
Chris Caton's 10 May 2013 update
10 May 2013
No direction for ASX today: FTSE and DAX +0.1%, SP -0.4%, Dow -0.1%, but still above 15,000.
Listen to podcast (4:23) Read transcript
Chris Caton's 8 May 2013 update
8 May 2013
We'll be up +0.5% with a positive due to policy boosting in Australia and Japan, with our rate cut : Nikkei +3.5% - but had been closed on Monday, FTSE +0.5%, DAX +0.9%, S&P +0.5%, Dow +0.6%.
Listen to podcast (3:31) Read transcript
Chris Caton's 7 May 2013 update
7 May 2013
We may start +0.25% despite no economic or company news, but the RBA board meets today. FTSE closed, DAX -0.1%, S&P +0.2%, Dow flat.
Listen to podcast (3:40) Read transcript
Chris Caton's 6 May 2013 update
6 May 2013
Another good session, FTSE +0.9%, DAX +0.2%, Dow and S&P +1% - US had a surprisingly good labour market report, +165,000 jobs (concensus expecting +150,000), previous month revised up as well.
Listen to podcast (6:01) Read transcript
Chris Caton's 3 May 2013 update
3 May 2013
We could be up +0.5% at the opening after a good night: FTSE +0.1%, DAX +0.6%, Dow and S&P +0.9% after the European Central Bank cut bench rate by 25 basis points and suggested implementing a negative interest rate.
Listen to podcast (4:24) Read transcript
Chris Caton's 2 May 2013 update
2 May 2013
We'll be down; US April Manufacturing ISM fell and construction spending down leading to a weak night: both indices US -0.9%, FTSE -0.33% with most trading closed.
Listen to podcast (3:36) Read transcript
Chris Caton's 1 May 2013 update
1 May 2013
We should start well today, AUD at USD 1.037 after a mixed night, S&P +0.25% (closing at an all-time record high, up 12% this year) Dow +0.1%, FTSE -0.4%, DAX +0.5%.
Listen to podcast (3:56) Read transcript

April 2013

Chris Caton's 29 April 2013 update
29 Apr 2013
US Q1 GDP increased 2.5% (forecast ~ 3%), held back by government spending, and inflation is lower than necessary to hit fiscal targets. Uniformly negative: FTSE -0.25%, DAX -0.2%, SP -0.2%, Dow bucked the trend: +0.1%
Listen to podcast (5:05) Read transcript
Chris Caton's 26 April 2013 update
26 Apr 2013
We're set for another gain at the opening. US durable goods orders fell, mainly due to aircraft, so core orders rose. Weekly jobless claims showed a small fall. FTSE +0.2%, DAX +1%, SP +0.4%, Dow +0.2%.
Listen to podcast (3:44) Read transcript
Chris Caton's 24 April 2013 update
24 Apr 2013
We'll be up +1% after a good night everywhere: FTSE +2%, DAX +2.4%, and better else: Bourse +3.6%. US opened up and stayed up, due to earnings reports: SP and Dow +1%.
Listen to podcast (4:36) Read transcript
Chris Caton's 23 April 2013 update
23 Apr 2013
We'll be off to a handy start this morning despite a quiet session overseas: FTSE -0.1%, DAX +0.2%, S&P +0.5%, Dow +0.1%
Listen to podcast (3:34) Read transcript
Chris Caton's 22 April 2013 update
22 Apr 2013
We'll start well although the dollar fell slightly in a quiet session. FTSE +0.7%, DAX -0.2%, S&P +0.9%, Dow +0.1% - Microsoft and Google had big gains in earnings, but they're not on the Dow, IBM is, and had poor earnings.
Listen to podcast (3:01) Read transcript
Chris Caton's 19 April 2013 update
19 Apr 2013
We'll be down but not much as we fell yesterday. The weak week continues - FTSE flat, DAX -0.4%, SP -0.7%, Dow -0.6%, for the week: -3% and -2.2% respectively, due to poor earnings from Ebay and weak economic data.
Listen to podcast (3:45) Read transcript
Andrew Dowie's 18 April 2013 update
18 Apr 2013
The Fed's Beige Book from Wednesday showed moderate growth of the US economy, an improvement from the previous Beige Book.
Listen to podcast (2:14) Read transcript
Chris Caton's 17 April 2013 update
17 Apr 2013
The attack in Boston had no effect on markets. Not a bad night, but Europe was still down: FTSE -0.6%, DAX -0.4%; US rose, higher all day: Dow +1.1%, SP +1.4% - not quite recovering everything from the day before. AUD has recovered in line with gold.
Listen to podcast (5:22) Read transcript
Chris Caton's 16 April 2013 update
16 Apr 2013
We'll be -1.25% at the opening after a poor night due to the Q1 GDP growth for China being less than expect (7.7%, down from 7.9% but consensus expected 8%). FTSE -0.6%, DAX -0.4%, US had the worst single day since 7 November: SP -2.3%, Dow -1.8%. We were saved slightly by the dollar falling, AUD now USD 1.03.
Listen to podcast (3:21) Read transcript
Chris Caton's 15 April 2013 update
15 Apr 2013
A down night to end the week: FTSE -0.5%, DAX -1.6%, S&P -0.3%, Dow flat - due to dispappointing US retail sales for March.
Listen to podcast (5:01) Read transcript
Chris Caton's 12 April 2013 update
12 Apr 2013
We'll be up after another positive session overnight: FTSE +0.4%, DAX +0.8%, S&P and Dow +0.4% and another record high.
Listen to podcast (3:52) Read transcript
Chris Caton's 11 April 2013 update
11 Apr 2013
We'll be buoyed by good night, best for some time, FT +1.2%, DAX +2.3%, SP +1.2%, Dow +0.9% - maybe due to strong data from China, maybe to the positive FOMC release.
Listen to podcast (4:56) Read transcript
Chris Caton's 10 April 2013 update
10 Apr 2013
We'll be helped by a mostly positive night overseas due to the Chinese inflation announcement: FTSE +0.6%, DAX -0.3%, S&P and Dow +0.4%; Dow at yet another all time closing high.
Listen to podcast (3:16) Read transcript
Chris Caton's 9 April 2013 update
9 Apr 2013
We should be +0.3% with US up last night after starting flat Dow +0.3%, S&P +0.3%, FTSE also up: +0.4%.
Listen to podcast (2:28) Read transcript
Chris Caton's 8 April 2013 update
8 Apr 2013
All significant European markets down more than 1%, US slumped early then rose all day but never made it back to the start, all due to a poor US employment report. S&P -0.4%, Dow -0.2%.
Listen to podcast (5:10) Read transcript
Chris Caton's 5 April 2013 update
5 Apr 2013
We may be up as the US was up with the Bank of Japan announcing a massive increase in quantitative easing, Nikkei starting down then ending +2.2%. FTSE -1%, DAX -0.7%, S&P and Dow +0.4%. US inital jobless claims rose for the third week in a row in the US but markets moved yesterday for that, so Japan was a greater influence.
Listen to podcast (4:55) Read transcript
Chris Caton's 4 April 2013 update
4 Apr 2013
We'll be off to a poor start: -0.5% after a soft night: FTSE -1.1%, DAX -0.9%, Dow -0.9%, S&P -1.1% - due to overreaction to the ADP employment estimate and the non-manufacturing ISM falling in March.
Listen to podcast (4:17) Read transcript
Chris Caton's 3 April 2013 update
3 Apr 2013
We'll be up today after markets were up everywhere:FTSE +1.2%, DAX +1.3%, S&P +0.4%, Dow +0.5% - new all time closing high for both - and the data from Europe good with the purchasing managers index up.
Listen to podcast (2:54) Read transcript
Chris Caton's 2 April 2013 update
2 Apr 2013
S&P rose +0.4% on Thursday, hitting a record high (as did the Dow) but gave it back on Monday. The Dow was flat on Monday so still near that record high. March ISM was disappointing which caused the falls on Monday. The Reserve will leave rates unchanged today.
Listen to podcast (3:12) Read transcript

March 2013

Chris Caton's 28 March 2013 update
28 Mar 2013
We'll start -0.25%, AUD = 104.4 US cents after a mildly negative night: FTSE -0.2%, DAX -1.1%, US opened down but nearly squared it off: S&P -0.06%, Dow -0.2% - due to nothing much coming out of Europe. Pending home sales for February fell, but had risen sharply in January.
Listen to podcast (3:53) Read transcript
Andrew Dowie's 27 March 2013 update
27 Mar 2013
US Durable goods index was -3.8% in January (revised to -5.2%), consensus expecting a rebound to +4%, the actual for February was +5.7%, centred on volatile defence components; Case-Shiller Index maintained its growth performance.
Listen to podcast (5:27) Read transcript
Chris Caton's 26 March 2013 update
26 Mar 2013
We'll be down dramatically at the start - an overreaction to a down night but not hugely so, given the Cypian situation: FTSE -0.2%, DAX -0.5%, S&P -0.3%, Dow -0.4%.
Listen to podcast (5:04) Read transcript
Chris Caton's 25 March 2013 update
25 Mar 2013
Futures Index +0.5% but we may do better at the start. Positive in the US, shrugging off concerns about Cyprus as they come up with an alternative plan: FTSE +0.1%, DAX -0.3%, S&P +0.7%, Dow +0.6% (-0.2% & square for week).
Listen to podcast (4:56) Read transcript
Chris Caton's 22 March 2013 update
22 Mar 2013
We'll be affected after a down day everywhere due to more concern about Cyprus: FTSE -0.7%, DAX -0.9%, S&P -0.8%, Dow -0.6% US jobless cliams now the lowest in 5 years, home sales rose slightly.
Listen to podcast (4:26) Read transcript
Chris Caton's 21 March 2013 update
21 Mar 2013
ASX may be +0.4% at the opening with good news after 3 days of market weakness, due to the FOMC statement about Cyprus: FTSE -0.1%, DAX +0.7%, S&P +0.7%, Dow +0.4%.
Listen to podcast (3:35) Read transcript
Andrew Dowie's 20 March 2013 update
20 Mar 2013
US housing starts rebounded to 917,000 from 910,000; US building permits up 4.6%, 11th monthly rise in a row, highest since June 2008.
Listen to podcast (2:44) Read transcript
Andrew Dowie's 18 March 2013 update
18 Mar 2013
February CPI month-to-month +0.7% (concensus: +0.5%), largest since June 2009 but mostly because of petrol, and up from January's flat reading.
Listen to podcast (5:33) Read transcript
Chris Caton's 15 March 2013 update
15 Mar 2013
A good positive session - FTSE +0.7%, DAX +1.1%, Dow & S&P +0.6%. Dow's 10th rise in a row, a streak not seen since '96, only 8 since '48 but ominously the longest streak, of 13, was in '87 before the crash.
Listen to podcast (5:08) Read transcript
Chris Caton's 14 March 2013 update
14 Mar 2013
Markets treading water overseas but we may rise to correct yesterday's fall - FTSE +0.1%, DAX -0.2%, S&P -0.2%, Dow flat.
Listen to podcast (4:05) Read transcript
Chris Caton's 13 March 2013 update
13 Mar 2013
Markets treading water overseas but we may rise to correct yesterday's fall - FTSE +0.1%, DAX -0.2%, S&P -0.2%, Dow flat.
Listen to podcast (3:34) Read transcript
Chris Caton's 12 March 2013 update
12 Mar 2013
There is not much to report as there were no economic data releases in the US and Europe. The FTSE was up by 0.3%, the DAX was close to flat, and the S&P and Dow were both up by 0.3%.
Listen to podcast (1:43) Read transcript
Chris Caton's 11 March 2013 update
11 Mar 2013
We'll start +0.4% after a good night. FTSE +0.7%, DAX +0.6%, S&P +0.4%, Dow+0.5%, fourth record high in a row, and it and the S&P rose for 6 sessions straight. S&P has risen 123.9% since it's low on the back of good employment figures.
Listen to podcast (4:10) Read transcript
Chris Caton's 8 March 2013 update
8 Mar 2013
DAX +0.3%, FTSE, S&P and Dow +0.2% - Yesterday ECB, Bank of England, Bank of Japan met and kept policy unchanged, and US 4-week avergae of jobless claims at its lowest point in 4 years.
Listen to podcast (2:41) Read transcript
Chris Caton's 7 March 2013 update
7 Mar 2013
Nothing much in Europe, FTSE -0.1%, DAX +0.6%, US had a seesawing day and ended S&P +0.1%, Dow +0.3%. Australian GDP result was middle of the road suggesting we're growing, but slowly, and consumer spending is lower than expected.
Listen to podcast (3:27) Read transcript
Chris Caton's 6 March 2013 update
6 Mar 2013
We'll be up +0.5% after a very good session. Economic retail sales in Europe saw DAX +2.3%, FTSE +1.4%. US followed, driven by reassessment of China and non-manufacturing ISM gains (+3% GDP), Dow +0.9%, S&P +1%, Dow now at an all-time record high.
Listen to podcast (4:26) Read transcript
Chris Caton's 5 March 2013 update
5 Mar 2013
We may gain 0.7-0.75% on the opening due to US markets; FTSE -0.5%, DAX -0.2%, US stayed down until the afternoon but ended up Dow +0.3%, SP +0.4%. There was concern over new measures in China to subdue property speculation and inflation and the US sequester came into operation - $85bn of cuts but markets rose anyway.
Listen to podcast (3:24) Read transcript
Chris Caton's 4 March 2013 update
4 Mar 2013
FTSE +0.3%, DAX -0.4%, S&P and Dow +0.2% - both recovering over the week from their reaction to the Italian election. US personal income data fell 3.6%, second largest decline ever.
Listen to podcast (5:03) Read transcript
Chris Caton's 1 March 2013 update
1 Mar 2013
Generally positive: FTSE +0.5%, DAX +.9%, Japan +2.7%, Hong Kong +2%; US let the side down SP Dow -0.1%. The ASX is +9.8% for the year to date, the best start to a year in the history of the ASX500.
Listen to podcast (5:25) Read transcript

February 2013

Andrew Dowie's 28 February 2013 update
28 Feb 2013
US January durable goods report -5.2%, down from December's +3.7%, consensus expecting -4.8% - but that's misleading, as it was affected by cuts in military spending, slowdown in aircraft production and the fiscal cliff. Orders ex-transport +1.9%.
Listen to podcast (4:53) Read transcript
Andrew Dowie's 27 February 2013 update
27 Feb 2013
US housing data: December Case-Schiller +6.8%, bang on concensus; Q4 national index +7.3%, new home sales in January 2013 highest since July 2008.
Listen to podcast (4:45) Read transcript
Andrew Dowie's 26 February 2013 update
26 Feb 2013
Dallas Fed Manufacturing Index dipped to 2.2 from January's 5.5, concensus expecting 3.5, due to weakness all round except for the outlook.
Listen to podcast (2:33) Read transcript
Chris Caton's 25 February 2013 update
25 Feb 2013
We will rise this morning after a good session on Friday: FTSE +0.7%, DAX +1%, Dow & S&P +0.9% Dow square for the week, S&P -0.3%, which was a good result after the overreaction to the FOMC announcement earlier.
Listen to podcast (3:10) Read transcript
Chris Caton's 18 February 2013 update
18 Feb 2013
Flat all week and flat on Friday: FTSE flat, DAX -0.5%, S&P -0.1%, Dow +0.1% - US industrial production weaker than expected but consumer sentiment is quite good.
Listen to podcast (3:46) Read transcript
James Kerr's 15 February 2013 update
15 Feb 2013
Disappointing GDP reports across Europe led to a risk-off tone in early trade, S&P recovered due to good jobless data, Italian grown -2.7% over the year.
Listen to podcast (3:29) Read transcript
Andrew Dowie's 14 February 2013 update
14 Feb 2013
US National Federation of Independent Businesses' report came in at 88.9, up from December's 88.0, with Consensus expecting 89.0; second monthly gain, but a country mile away from October's 93.1.
Listen to podcast (3:34) Read transcript
Andrew Dowie's 13 February 2013 update
13 Feb 2013
US National Federation of Independent Businesses' report came in at 88.9, up from December's 88.0, with Consensus expecting 89.0; second monthly gain, but a country mile away from October's 93.1.
Listen to podcast (3:34) Read transcript
Chris Caton's 11 February 2013 update
11 Feb 2013
A mixed week ended up - FTSE +0.6%, DAX +0.8%, S&P +0.6%, Dow +0.4% - as the balance of trade for December improved significantly.
Listen to podcast (3:46) Read transcript
Andrew Dowie's 8 February 2013 update
8 Feb 2013
US initial jobless claims for Febuary 2 were down 5,000, matching consensus; output growth should recover but is coupled with a rise in CPI.
Listen to podcast (3:34) Read transcript
Andrew Dowie's 6 February 2013 update
6 Feb 2013
US January Non-manufacturing (services) ISM fell to 55.2 from 55.7, but higher than consensus' 55.0.
Listen to podcast (2:08) Read transcript
Chris Caton's 5 February 2013 update
5 Feb 2013
We'll start -0.75% with markets down all over world - FTSE -1.6%, DAX -2.5%, S&P -1.1%, Dow -0.9% - Europe the main story with a corruption scansdal in Spain & concerns about the upcoming elections in Italy.
Listen to podcast (3:19) Read transcript
Chris Caton's 4 February 2013 update
4 Feb 2013
There's more good news to report. The FTSE rose by 1.1% and the German market by 0.7%. In the US, the S&P was up by 1%, and the DOW up by 1.1%. For the Australian market, the Futures market suggests an opening of half a percent higher, and our currency is at 104 US cents.
Listen to podcast (6:09) Read transcript
Chris Caton's 1 February 2013 update
1 Feb 2013
Some good economic news but not enough to please markets: FTSE -0.7%, DAX -0.5%, US positive early but ended down, S&P -0.3%, Dow -0.4%. SP +5% for the month of January (ASX +4.9%), +15.1% for the year and +121.4% since early March 2009 trough.
Listen to podcast (4:20) Read transcript

January 2013

Chris Caton's 31 January 2013 update
31 Jan 2013
Nothing much happened overnight. The FTSE market was down by 0.25%, the German market was down by 0.5%, the Dow down by 0.3%, and the S&P down by 0.4%.
Listen to podcast (4:19) Read transcript
Chris Caton's 30 January 2013 update
30 Jan 2013
Expect another good start today - we've had nine in a row - with overseas markets all strong: FTSE +0.7%,DAX +0.2%, S&P and Dow +0.5%.
Listen to podcast (4:04) Read transcript
Chris Caton's 29 January 2013 update
29 Jan 2013
Not much movement on Monday: FTSE +0.2%, DAX -0.3%, Dow ended its up streak, -0.1%, S&P -0.2% but stayed about 1500.
Listen to podcast (3:41) Read transcript
James Kerr's 25 January 2013 update
25 Jan 2013
S&P up to 1502, highest since 2007, FTSE +0.8%, AUD fell to USD1.045; warning for investors with Apple's reporting lowered revenue.
Listen to podcast (3:29) Read transcript
Andrew Dowie's 24 January 2013 update
24 Jan 2013
Federal Housing Finance Agency's November Home Price Index +0.6% for the month, matching consensus.
Listen to podcast (2:45) Read transcript
Andrew Dowie's 23 January 2013 update
23 Jan 2013
December's existing home sales release recorded a one percent decline in sales volume, with Consensus calling for an up one percent figure. So with this December publication out of the way and putting things into some semblance of perspective, on the Quarterly Metric, quarter four sales were at 4.9 million units annualised and quarter three were at 4.66 million and quarter two at 4.54 million.
Listen to podcast (3:38) Read transcript
Andrew Dowie's 21 January 2013 update
21 Jan 2013
The January release of the University of Michigan's Index of Consumer Sentiment was supposed to print a 75.0, a strong rebound from December's 72.9. The driver for this forecast January up tick being essentially two things, relief over the last minute fiscal cliff agreement and the ensuing equity market rally.
Listen to podcast (3:13) Read transcript
Andrew Dowie's 18 January 2013 update
18 Jan 2013
US initial jobless claims declined by 37,000 to 335,000, well below the 369,000 consensus; housing starts increased to a seasonally adjusted annualised rate of 954,000 in December, beating consensus' bullish 890,000 and a 12.1% increase from November's print.
Listen to podcast (7:32) Read transcript
Andrew Dowie's 17 January 2013 update
17 Jan 2013
US December industrial production +0.3%, matching consensus despite the dampner of the fiscal cliff, now highest since June 2008. December's manufacturing +2.4% annualised, again despite the fiscal cliff. Inflation comfortably below the Fed's 2% target and right on their projection.
Listen to podcast (6:51) Read transcript
Andrew Dowie's 16 January 2013 update
16 Jan 2013
US December retail sales an encouraging +0.5% (consensus +0.2%); November's were also revised up to +0.4% from +0.3%. December PPI -0.2%, consensus -0.1%, due to falling energy prices. January Empire State Manufacturing index consensus flat, actual -7.78%
Listen to podcast (5:55) Read transcript
James Kerr's 15 January 2013 update
15 Jan 2013
Markets remained cautious, awaiting the US Fed president's speech on monetary policy, although the AUD and European bonds were higher.
Listen to podcast (2:20) Read transcript
Andrew Dowie's 14 January 2013 update
14 Jan 2013
November trade deficit $48.7bn - widest since April and the largest one-month increase since Jan 2011: up 16%; consensus expecting $41.3bn after October's $42.1bn. December import price index -0.1% with concensus expecting +0.1%, annualised figure an encouraging -1.5%.
Listen to podcast (4:20) Read transcript
Andrew Dowie's 11 January 2013 update
11 Jan 2013
Initial jobless claims for Jan 5 increased slightly, contrary to the expected slight decline. November Wholesale inventories +0.6%, triple 0.2% consensus; offset by the October revision but the fifth consecutive increase.
Listen to podcast (3:54) Read transcript
Andrew Dowie's 10 January 2013 update
10 Jan 2013
November consumer credit expected to fall to $12.7bn from October's $14.1bn but actual came in at $16bn with borrowing accelerating, especially in student loans and car finance.
Listen to podcast (2:26) Read transcript
Andrew Dowie's 9 January 2013 update
9 Jan 2013
US December NFIB optimism index not exactly overflowing with optimism at 88.0, above the 87.2 concensus but still the 2nd lowest print since March 2010; probably driven by the fiscal cliff empasse.
Listen to podcast (2:51) Read transcript
Andrew Dowie's 7 January 2013 update
7 Jan 2013
The US December employment report matched the lacklustre concensus expectation of 7.8% unemployment but the gain in payrolls suggests greater health in the economy.
Listen to podcast (3:58) Read transcript
Andrew Dowie's 4 January 2013 update
4 Jan 2013
US weekly initial jobless claims - 360,000 concensus, actual 372,000 increase with a 'strong holiday effect' due to office closures; 4 week average still 360,000. ADP private payrolls December saw an increase of 215,000, well above 140,00 estimate.
Listen to podcast (3:14) Read transcript
Andrew Dowie's 3 January 2013 update
3 Jan 2013
US December ISM manufacturing report rebounded from 49.5 of November with concensus expecting 50.5, actual 50.7, just beating estimate and more importantly returning to expansionary territory. However, November construction spending -0.3% against the concensus +0.6%.
Listen to podcast (3:16) Read transcript

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.

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