MARKETS

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.

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.

Speculations are rising in the market that Nokia will report yet another quarterly loss and diminishing cash reserves prior to Nokia's upcoming smartphone launches next month. Nokia is struggling hard to regain grounds that it has lost to its arch rivals in the smartphone sector Samsung Electronics Co. and Apple Inc.

Agora's own globetrotting value investor, Chris Mayer, recently returned from a fact-finding expedition to the mysterious land of Myanmar, cut off to western investors for the past half century.

Just as there is capitulation selling to the downside, there is capitulation buying to the upside. That is, people just give in to their emotions and sell or buy, depending on the prevailing mood. There's no real rational analysis involved, just a tremendous urge to join the herd. Humans have an innate desire to 'herd'.

Just kidding. The world's financial system is still on track for a reckoning. We just don't know if it will be another 10 years of Japan-like zombie land...or something more sinister and sudden.

It just goes to show how confused things are on the ground when property developers and recent homebuyers are struggling while the economic talking heads babble about a renewed Australian property boom. Welcome to a world full of monetary distortions.

Seafish Tasmania, the operator of 142-foot long supertrawler Abel Tasman, offered on Thursday to reduce its freezing capacity in a bid lift the ban on the fishing vessel imposed by the federal government.

By Peter Switzer, Switzer Super ReportThere are two big issues super trustees should be tossing over. The first is whether interest rates come down again, which will be of particular interest to those who are playing it safe.

By Greg PeelThe Dow closed down 8 points, while the S&P fell 0.2% and the Nasdaq plunged 1.0%.Google, like Apple, is one of the America's largest stocks by market cap and should thus be in the Dow Jones Industrial Average, but isn't given a per share face value that exceeds Dow criteria.

Local stocks closed at their highest levels since July 2011 today, with investor sentiment boosted by the fact today's Chinese economic data contained no nasty surprises. The All Ordinaries Index (XAO) added 30pts by close or 0.7pct to 4580.9, after hitting an intra-day high of 4602.5.