Christine Gaylican

U.S. stocks pared their losses to trade a touch lower as investors took a cautious stance on the European economic outlook after the Dow's rise to the cusp of new highs.

The continuing rift within Australia's Labour Party has forced Kevin Rudd to rescind his post as the country's Foreign Minister stressing this is the most honourable thing to do amidst the political attacks marring his credibility.

Market consolidation and some profit-taking will hit the Australian stock markets on Wednesday as investors have shifted their wariness to the lingering tension with Iran and the rest of the members of the United Nations.

Bell FX Currency Outlook: The Australian Dollar is weaker this morning as concerns remain Greece will require more financial assistance despite the approval of a second bailout package.

The Dow Jones Industrial Average pierced the 13000 level for the first time since before the financial crisis, but traded largely below the mark during a choppy session in which stocks were negative at times. The Dow broke 13,000 before noon Tuesday and a handful of other times throughout the day, but was down 17 points, or 0.1%, at 12933 in afternoon trading.

The Australian stock market had opened flat this morning as momentum is yet to build up with the meeting among European leaders proceeding as of posting time.

The U.S. dollar fell to a near two-week low against the euro Monday on hopes European finance ministers would agree on conditions for another loan for Greece.

Bell FX Currency Outlook: The AUD is holding steady around USD1.0750 as investors wait for news out of Europe regarding Greece's EUR130bio bailout package.

Australia's retails sales had gone up by 0.6% for the fourth consecutive month in all territories, according to the Commonwealth Bank's Business Sales Indicator.

Positive developments over the weekend are seen casting good leads for the Australian stock markets on Monday. China's decision to cut its reserve requirement ratio on Saturday, by 50 basis points, taking effect 24 February, will improve risk sentiments today and lift the bearish mood, analysts said.

Bell FX Currency Outlook: The Australian dollar has risen this morning to the high 1.0700's after China's weekend move to yet again lower the reserve requirements it imposes on its banks.

From Morrison Securities Pty. Ltd: The Dow Jones Industrial Average pushed higher for the second day after European leaders signaled progress toward an agreement on a second bailout for Greece. Both the Dow and Standard & Poor's 500 stock indexes made runs at multiyear milestones, but a late rally lost momentum ahead of the long, holiday weekend.

Bell FX Currency Outlook: The Australian dollar has risen almost a full US cent overnight to open at USD1.0750 this morning, up from USD1.0668 late Thursday.

Tuning out the uncertainty cast by the Greek debt default and further quantitative easing in the U.S. will be difficult for the local Aussie markets to overcome on Thursday as profit-taking dominates in the early hours of trade and signalling a sluggish start.

Bell FX Currency Outlook: The Australian dollar edged its way towards USD1.0800 during yesterday's local session but is back down under USD1.0700 this morning.

U.S. stocks were on pace for their steepest fall of the year, as questions about the latest Greek bailout added to concerns about industrial stocks. The Dow Jones Industrial Average tumbled 111 points, or 0.9%, to 12768, in late Wednesday afternoon, after rising for five out of the past six days.

The Australian stock market on Wednesday will try to put away the lacklustre sentiments generated by the U.S. and European indices overnight with a focus on a few earnings reports due to be released today.

Bell FX Currency Outlook: The Australian dollar traded in a choppy fashion overnight, in sync with its European counterpart, after yesterday's sovereign ratings downgrades by Moodys.

From MORRISON SECURITIES PTY. LTD: U.S. stocks fell Tuesday as investors considered weaker-than-expected retail sales data and watched for progress in Europe over Greece's debt.

There are so much opportunity offered by Chinese reverse mergers or "reverse takeovers (RTOs)," MR Capital Management founder and fund director Mohannad Al-Rashoudi says in a statement.

The Australian Industry Group National Executive meeting in Canberra today has appointed Innes Willox as the organisation's new Chief Executive.

To increase the production capability of the Escondida copper mine in Chile, Rio Tinto has approved US$1.4 billion for two projects supporting this move.

Bell FX Currency Outlook: The AUD rallied yesterday after the Greek Parliament passed the austerity measures required by the European Commission, but failed to breach 1.0800.

The Australian stock market is seen heading for a slow but steady start on Tuesday with the positive global markets performance extending limited gains on commodities and other risk-related assets.

Stocks added to gains and hit session highs in afternoon trading, buoyed by the adoption of austerity measures by Greece's Parliament. The Dow Jones Industrial Average was recently ahead 82 points, or 0.6%, at 12884. The Standard & Poor's 500-stock index advanced 10 points, or 0.8%, to 1353, and the Nasdaq Composite gained 29 points, or 1%, to 2933.

Online shopping trend these days saw a rise in purchases of sex dolls and sex toys, according to site Alibaba.com.

Australian stocks are in for a rough day as there are not enough leads from other markets to rally on Monday's opening, analysts say.

Bell FX Currency Outlook: The AUD tumbled on Friday from the close to 1.0800 to open just below 1.0700 this morning as financial markets became nervous before the vote on austerity measures by the Greek Parliament.

Stocks were dragged down for their worst one-day loss in about six weeks by tumult over the Greek bailout, disappointing readings on the U.S. economy and a downgrade of nearly three dozen Italian banks.