Daily FNArena News

Weekly musings from your editor. Despite all the dangers, uncertainties, and lots of noise, the underlying trend for equities is up.

The spot U3O8 price has continued its weakness this week.

While some in the market see US unemployment hitting 12-13% in coming months Morgan Stanley disagrees, expecting the measure will soon peak at around 10.5%.

Australian labour market figures for Otober were stronger than the market had expected and suggest a further 0.25% hike in the cash rate is likely when the RBA meets next month.

While the neighbourhood of 10% was expected to be the peak for US unemployment, fears are growing that it could push to 12% and beyond.

Oz Consumers have turned a little less exuberant about prospects for employment and inflation, but nothing to worry about.

Wesfarmers AGM comments included confirmation its Curragh coal project would be expanded, which brokers see as modestly positive for earnings longer term.

China’s data releases today were just as spectacular as many had assumed, leading to 10% GDP growth forecasts and inflation concerns.

Brokers are happy to hear the rivers are flowing again but at least one still sees only a creek.

Consumer confidence in Australia is becoming more sensitive towards further rate hikes, Westpac economists report.