Christine Gaylican

The third day of the Rolex Sydney-Hobart Yacht Race has turned quite fierce between maxi boats Investec Loyal and Wild Oats XI as the line honours is now more contentious up to the finish. (Update: After crossing the finish line with only a 3 minute advantage over Wild Oats XI, Investec Loyal's victory is now under protest and a hearing will be held Thursday at the Royal Yacht Club of Tasmania at 10 AM AEST.)

US consumer confidence hit eight month highs in December, lifting from 55.2 to 64.5. Economists had tipped a reading near 58.3. But home prices continued to fall with the S&P/Case-Shiller index down 0.6pct in October to stand 3.4pct lower than a year ago.

From Morrison Securities Pty. Ltd.U.S. stocks edged higher, putting blue chips on track for a fifth straight day of gains, as investors welcomed a better-than-expected reading on consumer confidence.

China is yet to be over its deadly tainted milk scandal because its largest dairy producer Mengniu has confiscated and removed milk cartons from local market shelves baring its label found with toxic substances.

Two teams have retired from the Sydney-Hobart Yacht Race as one is down by engine failure and the other a broken gooseneck while traversing the rough seas on the first day of the race.

From Morrison Securities Pty Ltd: On Friday, December 23, Wall Street and European markets rallied overnight after the number of jobless claims in the US fell to the lowest level since April 2008, in a further sign the world's largest economy is returning to health. Australian stocks rose 1.2 per cent to the highest in a week in their last day of trading before Christmas after positive data from the US boosted market optimism

Australia's Lynas Mining Corp. is seen getting its rare earths facility up and running by the first quarter of 2011, according to Malaysian authorities.

MORNING REPORT (8.00am AEDT)US jobless claims fell by 4,000 to 364,000 in the last week - marking a fresh 3½ year low. The final estimate of US GDP showed the economy expanded at 1.8pct in the September quarter (previously reported at 2pct). The University of Michigan consumer sentiment index rose from 64.1 to 69.9 in November - its highest level in six-months. The survey´s one-year inflation expectation edged lower from 3.2pct to 3.1pct.

U.S. stocks rose Thursday, aiming for a third-consecutive advance, on a batch of better-than-expected readings on the state of the domestic economy

Bell FX Currency Outlook: Positive US data supported sentiment overnight with the Australian dollar opening this morning at USD1.0130 against the Greenback, up from USD1.0080 late yesterday.

The changing climate has made it more difficult to predict weather patterns that could either be damaging to life and property. Some architects from the U.S. and Asia have devised the latest of designs in order for homes to withstand the wrath of Mother Nature.

MORNING REPORT (8.00am AEDT)US existing home sales rose 4pct in November. At November´s sales pace, the 2.58 million unsold homes on the market represented 7 months supply - the lowest since February 2007 - a sign the backlog of inventory was clearing.

Bell FX Currency Outlook: After a bullish run throughout yesterday's local session, the AUD has been sold off again overnight.

From Morrison Securities Pty Ltd.:U.S. stocks fell as questions about loans to euro-zone banks and some earnings disappointments cut into Tuesday's optimism. The Dow Jones Industrial Average fell 30 points, or 0.3%, to 12073, the Standard & Poor's 500-stock index eased 2 points, or 0.1%, to 1239 and the Nasdaq Composite lost 39 points, or 1.5%, to 2564.

Bell FX Currency Outlook: The Australian Dollar has rallied solidly overnight due to improved confidence in financial markets, brought about largely from solid economic data in Europe and the US, as well as a successful Spanish debt auction.

From Morrison Securities Pty. Ltd. U.S. stocks rallied as domestic home building jumped to the highest level in nearly two years and another successful Spanish debt auction buoyed investor sentiment.

U.S. stocks fell Monday after European Central Bank President Mario Draghi made cautious comments on the state of Europe's economy and as bank stocks sagged in expectation of tighter capital standards.

Bell FX Currency Outlook: The death of North Korea's leader, Kim Jong-II has brought further uncertainty to an already fragile market. As a result, the AUD and equity markets were lower across the board.

Bell FX Currency Outlook:The Australian Dollar has opened trading this morning just below parity, after an uneventful offshore session on Friday.

Improving the competitiveness of the Australian economy will be fundamental to making the most of opportunities for engagement with the world's growth hub of Asia, Business Council of Australia President Tony Shepherd said.

Caltex Australia is expecting profits to slide in 2011 because of production disruptions and wild changes in the global supply and price of crude oil.

MORNING REPORT (8.00am AEDT)The Empire manufacturing survey bounced to a 7-month high of 9.53 in December. The Philly Fed survey bounced to an 8-month high of 10.3 in December. Both suggest that the US economy is weathering the ongoing European crisis relatively well. US producer prices rose 0.3pct in November after falling by a similar magnitude in October. Excluding food and energy producer prices was up just 0.1pct in November.

From Morrison Securities Pty. Ltd.U.S. stocks gained after investors took heart from stronger U.S. economic data, but fell off session highs after the head of the International Monetary Fund stoked fears that Europe's sovereign-debt crisis is worsening.

Bell FX Currency Outlook: The Australian Dollar has opened trading around the USD0.9920 level after trading up to USD0.9990 overnight.

Morningstar has again launched its yearly pick for the top fixed-income managers of the year. The tough criterion will again focus on how these managers delivered outstanding returns based on a sound strategy for the long term and not just on the highest returns made for the fiscal year.

Bell FX Currency Outlook: The AUD has fallen again overnight as concerns over the Euro Zone debt crisis continue to drive the markets.

A sluggish start is seen for the Australian stock market as a reflection of negative overnight leads from the U.S. and European stock markets. In spite the good import numbers reported for the first time in the U.S., stocks still skidded due to the pessimism pervading the commodities markets. In yesterday's trading the top

From Morrison Securities Pty. Ltd. U.S. stocks sank for a third straight day as falling commodity prices added to investor anxiety over the euro and a jump in Italy's borrowing costs.

Bell FX Currency Outlook: The Australian Dollar is hovering around Parity following a night of slightly disappointing US Data and the FOMC (Federal Open Market Committee) rates decision this morning.