MARKETS

By Peter Switzer, Switzer Super ReportThe S&P 500 is now below an important testing level of 1,420; it's sitting on 1,412, which should have some resistance, but if it falls, 1,400 is the next big one.

By Greg PeelThe Dow closed up 26 points, or 0.2%, while the S&P gained 0.3% to 1412 and the Nasdaq added 0.

The US Federal Reserve announced overnight that it would continue with its current economic stimulus program, QE3. The move failed to excite local investors, with the All Ordinaries Index (XAO) finishing only slightly higher, up 2.9pts to 4533.5pts.

Overseas markets generally stabilised overnight following the sharp sell-off yesterday. European markets were higher even with weak manufacturing numbers and lower metals prices. The US markets lost ground towards the close of trade the Dow finishing down 25 points and the NASDAQ only down 8points but still in the red.

By Greg PeelWhen the price of Brent crude futures started to blow out over the price of West Texas Intermediate (WTI) crude futures in 2010, much money was lost by traders used to wide spreads lasting only briefly before slamming shut again.

By Greg PeelThe Dow closed down 25 points, or 0.2%, while the S&P lost 0.3% to 1408 and the Nasdaq fell 0.

A weak offshore lead impacted local stocks today, sending the Australian share market down 0.8pct. Worries about Spain's spiking borrowing costs saw European markets hit 6 week lows while US investors were spooked by disappointing earnings results. Adding to the downbeat mood, ratings agency Moody´s downgraded five Spanish regions. The All Ordinaries Index closed down 37.4pts to 4530.6.

The Australian share market managed only a small win yesterday but all or the gains have been wiped out today. Overnight we saw wide spread selling on European and US Stock and commodity markets.

'Asia has a big advantage,' said our old friend Marc Faber, at the Halkin conference in London. 'It doesn't have the same entitlement culture of the developed countries.'

The National Australia Bank (NAB) reported pre-tax profits of $1.4 billion on Friday. That's a lot of money. But it was $250 million that got the market's attention. The stock was down as much as 3.5% during the day before closing down 2.71%.

By Greg PeelThe Dow fell 243 points, or 1.8% while the S&P lost 1.4% to 1413 and the Nasdaq dropped 0.

The Australian share market managed only a small win today. No local economic data was released but a raft of companies held their Annual General Meetings (AGM) while the Australian dollar was well supported ahead of tomorrow's key inflation numbers. After reaching an intra-day high of 4588.7pts, the All Ordinaries Index (XAO) closed higher by 3.4pts or 0.1pct to 4568.

German Chancellor Angela Merkel said on Friday that a single banking supervisory body will be set up in the course of next year, opening the way for the eurozone's rescue fund to inject capital directly into the region's ailing banks.

The US markets turned higher into the close of trade. With Apple share and related tech stocks rallying higher. Today on the Australian share market we saw investors buying back into fiancé stocks and key banks. The materials and energy stocks rose in morning trade even with a fall in metal and oil prices overnight. By lunchtime in the East, the All Ordinaries Index (XAO) was up 13 points after starting 23 points higher.

Japanese exports have tumbled at their sharpest pace since the aftermath of last year's earthquake and tsunami. More worryingly, exports to China have fallen to fresh lows amid a worsening territorial spat.

By Victoria GalsbandThe value anomaly ? higher average returns on value as opposed to growth stocks ? is a robust phenomenon on equity markets around the world.

By Andrew NelsonUranium trading two weeks back saw the spot price plummet 5%, with increasingly cash poor and panicky sellers doing what they could to generate some volume.

BP has started the construction of its $20 million facility at Largs North in Adelaide. It is the first phase of the oil and gas giant's $41 million investment over the next five years.

By Greg PeelThe Dow closed up 2 points, the S&P closed flat at 1433 and the Nasdaq rose 0.4%.The world received a bit of a shock yesterday on the release of September trade data from that oft forgotten economy ? Japan.

By Richard (Rick) MillsAhead of the HerdAs a general rule, the most successful man in life is the man who has the best informationThe number of people living in areas affected by severe water stress is expected to increase to almost four billion people.

The Australian share market eased from 14 month highs today, following a weak lead from offshore markets and lower commodity prices. US stocks fell on Friday night on disappointing earnings results and with investors spooked on the 25th anniversary of the 1987 stock market crash. The All Ordinaries Index (XAO) closed down 28.9pts or 0.6pct to 4565.6pts.

The Australian share market is modestly lower at lunchtime in the East, following Wall Street's lead. The US Dow Jones Index closed down 0.1pct while technology shares saw the NASDAQ fall by 1pct. At lunchtime in the East, the All Ordinaries Index (XAO) is down 7.8pts or 0.2pct to 4573.1.

Surprise, surprise. China's GDP growth for the third quarter came in bang on the consensus estimate of 7.4%, the slowest rate of growth in years. But the market liked it because on a quarter-on-quarter basis growth was 2.2%, up from 2% in the prior quarter. So on an annualised basis, the Chinese economy grew at a fast 8.8%.

The verdict is out. After weeks of laboratory tests and court injunctions, Pakistani authorities finally decided to cull the remaining 11,500 Australian sheep beginning Friday in Karachi.

The first thing to know about them is that they always use a net. In fact, trapeze artists will practice a trick by repeatedly landing in the net, until they get it right. Only then will the catcher bother to make a trip up the rope ladder to hang in the catch trapeze and pluck the swinging flyer out of the air.

Sony Corp. informed on the 19th of October it would cut approximately 2,000 jobs in Japan in the year to March 2013 as a part of the restructuring plan. The company also announced the closure of a camera lens factory in Japan as well. The job cuts in Japan are a part of Sony Corp.'s global plan to downsize the global headcount by about 10,000 by March 2013.

Canada has blocked Petroliam Nasional Berhad's takeover of Progress Energy Resources Corp. The $5.23 billion bid was rejected as it would not advance national interests of Canada, according to the government.

China is slowing down but that may not necessarily be a bad thing. China's economic transformation could probably mean better quality growth, according to Goldman Sachs economist Jim O'Neill.

European leaders are scheduled to meet in Brussels today for a two-day summit, but early reports have revealed deep and uncomfortable divisions over a proposed banking union that is intended to underpin the eurozone.