It was hardly the strongest of rebounds this morning on the market after Wall Street recovered all of Friday’s big loss with a 286 point, or 2.2% gain. Led by Macquarie Bank the market recovered ground, adding 75 points or so in the first half hour, before easing as investors worried about lower oil and copper prices and a possible interest rate rise tomorrow.
The All ords was only up 56 points by 11.40 am and the ASX 200 was up 58 points.
Macquarie Bank though was up $4.45 or 6.3% at %74.50, which will bring some comfort to the Millionaire’s factory.
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Meanwhile, not everyone is taking the whole ”orderly correction” thing in total calm. CNBC commentator Jim Cramer – finance reporting’s answer to Darrell Eastlake – blew a gasket on air over the fall out from the market slump and sent a stern message to the US Federal Reserve. Watch it here or click the image below.