US Index Commentary – 02Mar

Posted: 03 Mar 2010, 3:39am (STOCK INDICES)


The Dow closed above the 10,400 level, and following a good start to European trading, we are set for another positive start. Japanese unemployment fell, and spending increased, pushing Asian markets higher, and the re-emergence of M&A action helped to ignite markets. All eyes remain fixed on the Greek fiscal debt situation, and later on in the week we have the non-farms scheduled to be released.

UBS have raised Sandisk from Sell to Neutral, and Dell from Neutral to Buy.

Goldman Sachs raise Kimberley Clark from Sell to Neutral.

After the closing bell last night, Qualcomm announced a $3bn share buyback and raised their dividends.

The Australian Central Bank raised interest rates to 4% this morning, with the RBA claiming that their economic growth predictions are back to normal Talk of a German/French bailout for Greece continues, however Angela Merkel still insists that the Greeks still need to reduce their deficit.

The Euro has hit nine and a half month lows against the US Dollar as confusion reigns over the state of the Greek situation.

Please be aware that the Beige Book is scheduled to be released tomorrow.

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