Wall St rises on Yellen, debt ceiling hopes
Before the Bell | Shares on Wall Street are now higher on hopes for steady Fed stimulus and a debt ceiling deal ■ Dow up 0.2pc ■ SPI futures down 23 pts ■ $A at US94.41¢.
US impasse keeps $A in tight range
The Australian dollar is slightly higher after the release of US Federal Reserve meeting minutes and news of Janet Yellen's nomination as Fed chief.
New jobs will be top priority in Yellen’s Fed
Janet Yellen’s first public words after being nominated as the next US Federal Reserve chairman suggest she may finally be able to connect the wonkish central bank with the American public.
Dow, S&P 500 end modestly higher
Updated | The Dow and S&P 500 rose as Republicans and Democrats in Congress showed early signs of a possible break in the impasse that has partially shut the US government for nine days.
A case for Wall Street to panic
Comment | By staying cool, the markets are making a crisis more likely.
Arab Spring to cost Middle East $800bn: HSBC estimates
The Arab Spring uprisings will end up costing Middle Eastern economies about $US800 billion in lost output by the end of next year.
Investors tip $200m into John Sevior’s Airlie
Wealthy investors have backed John Sevior and David Cooper’s investment strategy, tipping close to $200 million into Airlie’s Concentrated Share Fund.
Small stocks to get their big break
After more than five years of confinement, the small companies market is looking like making an upward break, says Australian boutique funds management firm Eley Griffiths Group.
Banks rediscover appetite for riskier home loans
Banks have rediscovered their appetite for risky lending, with nearly three-quarters of home loan products on offer now requiring just 5 per cent deposits or less.
IMF fears US tightening and China credit are risks to system
The global financial system faces multiple threats in the next 12 months, in particular from China’s effort to avoid a credit crunch and the US central bank’s plan to end its monetary stimulus program.
Yellen puts economic theory into practice
When the economists Janet Yellen and George Akerlof hired a baby sitter for their son in the early 1980s, they decided to pay more than the going wage and hit upon an economic theory that guides Yellen’s thinking to this day.
Currencies
| AUD | USD | EUR | JPY | GBP | |
| AUD |  |
0.9446 | 0.6984 | 91.98 | 0.5918 |
| USD | 1.0582 |  |
0.7393 | 97.37 | 0.6264 |
| EUR | 1.4311 | 1.3524 |  |
131.68 | 0.8473 |
| JPY | 0.0109 | 0.0103 | 0.0076 |  |
0.0064 |
| GBP | 1.6885 | 1.5956 | 1.1797 | 155.36 |  |
World Indices
| S&P;/ASX 200 | 5,153.0 | + 0.0 | + 0.00% |
| ALL ORDINARIES | 5,151.6 | + 0.0 | + 0.00% |
| S&P;/ASX 100 | 4,274.5 | + 0.0 | + 0.00% |
| SMALL ORDS | 2,154.7 | + 0.0 | + 0.00% |
| Dow Jones | 14,802.98 | + 26.45 | + 0.18% |
| S&P 500 INDEX | 1,656.40 | + 0.95 | + 0.06% |
| NASDAQ COMPOSITE | 3,677.78 | - 17.06 | - 0.46% |
| Wilshire 5000 | 17,679.16 | - 245.18 | - 1.37% |
| FTSE 100 | 6,337.91 | - 27.92 | - 0.44% |
| CAC 40 INDEX | 4,127.05 | - 6.48 | - 0.16% |
| SMI PR | 7,755.26 | - 72.98 | - 0.93% |
| XETRA DAX PF | 8,516.69 | - 39.20 | - 0.46% |
| HANG SENG INDEX | 23,033.97 | - 144.88 | - 0.63% |
| - | % |
| NIKKEI 225 INDEX | 14,037.84 | 0.00 | 0.00% |
| SSE COMPOSITE/d | 2,211.77 | + 13.57 | + 0.62% |
Possible US debt payment delay spooks investors
Cracks are beginning to appear in the massive US money market as investors begin to fret about the previously inconceivable possibility of a US debt default.
Tricky timing for new Fed chief Janet Yellen
Janet Yellen’s pending rise to the most powerful econocrat job in the world comes at a time when the US Federal Reserve finds itself in uncharted and potentially risky territory.
Troublemakers need to face how they put Asia at risk
Asia’s summits have given Tony Abbott a valuable insider’s view of how the region is trying to deal with tensions and challenges.
Investors reassured as dove lands on Fed chair
Any investor worried about when the US Federal Reserve would start its tapering program will cheer the news that Janet Yellen is poised to become the most-powerful central banker in the world.
Finding light in emerging markets’ gloom
After two difficult years, emerging-market stock funds posted solid gains in the third quarter, raising hope that this once-high-flying asset class may be ready to rebound. Yet many strategists and money managers caution investors not to get too excited.
Price of iron ore key to value of Rio Tinto stock
Rio Tinto is set to cement its dominance in the iron ore market after reaching a new production milestone and as it considers a further expansion to 360 million tonnes a year, but analysts are struggling to agree on the future price of the commodity.
Investors calm as US debt ceiling deadline nears
Australian shares are set to trade 0.6 per cent higher when the S&P/ASX 200 reopens on Monday after Wall Street closed higher on Friday, signalling that investors are hopeful the shutdown can be resolved in the coming week.
Exporters feel the pain of US budget squabble
Talk about unintended consequences. Australian exporters were just starting to relish the prospect of a lower Australian dollar when the budget squabble in America pushed it up.
Taking stock
Fletcher Building outlook divides market opinion
The market remains divided over the outlook for building materials company, Fletcher Building, as the New Zealand housing market continues to ramp up but signs from the Australian market point to a drawn-out recovery.
Mixed views as BigAir shares climb
Analysts have delivered mixed views on BigAir Group as the wireless broadband provider has seen its share price climb this year.
Equity Markets
Brambles (BXB)
Bank of America Merrill Lynch has maintained a “neutral” rating on Brambles, saying that compared with a basket of other high-quality listed names, the stock is slightly overvalued.
Telstra Corporation (TLS)
CIMB has maintained its “neutral” rating on Telstra Corporation with analyst Ian Martin saying the telecommunications company issued a debt prospectus that highlighted regulatory risk.
Debt Markets
Consensus emerging on debt-limit increase
Republicans and Democrats in Congress see signs of hope for a break in their fiscal impasse, as members of both parties floated the possibility of a short-term increase in the debt limit.
IMF fears US tightening and China credit are risks to system
The global financial system faces multiple threats in the next 12 months, in particular from China’s effort to avoid a credit crunch and the US central bank’s plan to end its monetary stimulus program.
Currency Markets
Yellen will push for maximum employment
US Federal Reserve vice chair Janet Yellen said she would do her utmost to promote maximum employment, stable prices, and a strong and stable financial system if she is confirmed to run the central bank.
Greenback rises from eight-month low after Yellen news
The US dollar rose from an eight-month low against major currencies on news that Federal Reserve vice chair Janet Yellen will be nominated as the next chief of the US central bank.
