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Wednesday, October 31, 2007

Stocks Rally On Microsoft And Countrywide Strength - U.S. Commentary []

Stocks Rally On Microsoft And Countrywide Strength - U.S. Commentary []
Wall Street rallied on Friday after strong quarterly results from Microsoft (MSFT) and a positive outlook from Countrywide Financial (CFC) reassured investors that a US recession is unlikely.

Interest Rate Optimism Fuels Growth - U.S. Commentary []
Renewed hope for an interest rate reduction by the Federal Reserve has been enough to offset record high prices for oil, as stocks post modest gains heading into afternoon trading on Monday.

Dollar Hits New 47-year Low Versus Loonie Amid GDP Data, Tame Inflation Reading [USD/CAD]
The dollar extended its 47-year low versus the loonie Wednesday morning following the release of stronger than expected US GDP figures. The dollar fell to .9506 just before the opening bell on Wall Street.

Profit Taking Contributes To Some Weakness In Morning Trading - U.S. Commentary []
Stocks have come under pressure over the course of morning trading on Tuesday, with the major averages giving back some ground after trending higher in recent sessions. Profit taking has contributed to the downward move, although selling pressure has remained relatively subdued.

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Any views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsibly for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.