MARKETS

By Greg PeelThe Dow fell 129 points or 0.8% while the S&P dropped 1.1% to 1782 and the Nasdaq lost 1.3%.

The Australian share market has closed in the red for a fifth consecutive session, dragged down by a downbeat lead from Wall Street and as a reading of consumer confidence in Australia fell to its lowest level since July.

The selloff that started in earnest in the early part of November has neutralised the October rally. It's back to square one in some respects. The area around 5150 has taken on new significance as a result. The way prices behave around these levels will reveal valuable insights into market sentiment. At this point it appears as though sellers remain in the ascendant notwithstanding the 300 point retracement that has been a feature of recent weeks.

- Woodside production guidance lacking- Low capex a positive- Leviathan still an unknown- Cash flow remains solidBy Greg PeelWoodside Petroleum ((WPL)) held its annual investor update yesterday.

By Tim Price, PFP Wealth ManagementThe Emotional Investor"To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information.

The Fed dominated headlines yesterday, with Jaime Bullard and Richard Fisher talking about the prospect of monetary policy unwinding; both agree it is likely to occur in the coming year, however their methods differ slightly.

In US economic news, weekly chain store sales were up by 2.6% in the latest week on a year ago according to Redbook, down from 4.9% in the previous week. And wholesale sales rose 1.0% in October with inventories up 1.4%.

By Greg PeelThe Dow fell 52 points or 0.3% while the S&P lost 0.3% to 1802 and the Nasdaq was steady.Following on from Monday's heavy volume, portfolio-driven slump on Bridge Street, yesterday began well and provided all the hallmarks of buyers returning after standing back the day before.

The Australian share market ran out of steam in afternoon trade, as investors elected to pull back their positions ahead of Chinese data due out after the bell. Despite rallying in early trade, the All Ordinaries Index (XAO) finished the session down 2.2 points to 5146.2.

The Australian share market is performing much more strongly today, rebounding from yesterday's 0.7 per cent loss. On Wall Street, the S&P 500 Index reached a new record high while the Dow Jones Index also closed higher, although was sold off into the close on concern tapering could begin in the next few weeks.

Overnight St. Louis President James Bullard hinted at the possibility that QE3 is about to see its first major alteration since its inception on September 13 2012.

In US economic news, the employment trends index rose from 113.64 to 115.21 in November.

By Greg PeelUS federal regulators have been turning the screws on global investment banks operating in the US, in more ways than one.

By Greg PeelThe Dow closed up 5 points while the S&P added 0.2% to 1808 and the Nasdaq rose 0.3%.It was an ugly day on Bridge Street yesterday.

If home carbonation system seller SodaStreams would have its way, one of the icons of Christmas wouldn't be red, fat and jolly. They would rather have Santa Claus be known as a Green Santa who will help the company sell more of its system.

The Australian share market ignored positive economic data out of China and the US and instead started the week in the red, as investors ran scared following a shock profit warning from Australia's largest insurer QBE (QBE). The All Ordinaries Index (XAO) closed lower by 37.6pts or 0.7 per cent to 5148.4 points.

Local trade on Monday was defined by continued weakness in the face of solid gains for US stocks on Friday. US markets were able to embrace the better than expected employment data (unemployment at a 5 year low with job creation beating expectations of 200k jobs added in November).

Friday night's unemployment print and non-farm payroll number has certainly awoken one thing - speculation.

PDF file attached.Corporate bonds offer an alternative to equity investment in providing a fixed "coupon", or interest payment, unlike equities which pay (or not) non-fixed dividend payments, and a maturity date, unlike equities which are open-ended.

In US economic news, employment (non-farm payrolls) rose by 203,000 in November, ahead of forecasts for a gain of 180,000. The unemployment rate fell from 7.3% to a five-year low of 7.0%. Meanwhile personal income fell 0.1% in October while spending rose 0.3%. And consumer sentiment rose from 75.1 to 82.5 in December.

The weekly closed last week on a downtrend for a third week. The market had its biggest weekly fall since June 2013 with a 200 point range.

The All Ordinaries Index (XAO) slipped by 0.2 per cent today, taking the losses this week to a significant 2.3 per cent. This makes it the worst week for local stocks in six months. Shares have fallen for five of the past six trading sessions. Volume was quite light however due to the all-important non-farm payrolls report in the U.S. tonight. This is a measure of how many jobs were added or lost in November and has the potential to set the tone for local shares and currencies next week. If much...

The selling that began with some conviction late Thursday afternoon has persisted in the early part of trade on Friday, although the ASX 200 is recovering from intraday weakness as banks pare declines. The question hanging over the market in the afternoon session will be whether it can hold the lows that have been established or will sellers continue to test the resolve of the market and gun for the low of the day which currently sits at 5154.6.

For the fifth day in a row the US has finished in the red.

In US economic news, weekly jobless claims (claims for unemployment insurance) fell by 23,000 to 298,000. The US economy grew at 3.6pct annual pace in the September quarter, up from the ´´flash´´ estimate of 2.8%. Factory orders fell by 0.9pct in October, close to forecasts. And according to Challenger, planned job layoffs fell from 45,730 to 45,314 in November.

Known for their disagreements on many issues, Qantas Chief Executive Alan Joyce and the Australian Council of Trade Unions (ACTU) are on the same side this time in seeking financial support from the Australian federal government to save the flag carrier from a financial crash.

By Greg PeelThe Dow fell 68 points or 0.4% while the S&P lost 0.4% to 1785 and the Nasdaq dropped 0.2%.

The Australian sharemarket gradually extended its losses from around midday onward, with the All Ordinaries Index (XAO) slumping by 1.3 per cent following a flat start. The mining sector was the only thing limiting the losses for most of the day; however faded late in trade.

The Australian sharemarket is in the red, with the All Ordinaries Index (XAO) down by 0.5 per cent at lunch. Strength in the mining sector is helping minimise market losses, with the industry up 0.55 per cent, while a 1.2 per cent slump across the financials is holding back the market most.