News from the world’s financial markets by stock market expert Marcus Padley.
Wall St was perversely up on weak economic numbers.
The Dow closed on its highs (up 165 at best) on a volatile day.
The Dow was up 140 at best on the back of surprise move by the People’s Bank of China to cut their benchmark interest rate.
Dow Jones closed on its high of the day on a Wall St Journal article suggesting the Fed was going to announce further stimulus measures.
US were markets were up with better than unexpected ISM numbers .
US market still weighed down by last Friday’s jobs numbers.
Dow Jones closed down 275 -- down 286 at worst on disappointing job numbers. Worst day this year.
2nd Q GDP in the US was revised down to 1.9% from 2.2% (much as expected).
US markets were all down as Europe deteriorates and as Pending home sales fell 5.5% in April, the lowest level since December.
Looks like we did our dash ahead of Wall St on yesterday's Chinese stimulus hope.
