Daily FNArena News

The Investment Policy Committee at Standard & Poor’s has revised lower its year-end target for the US market to 1,490 on the S&P500 Index but still suggests a stronger second half performance.

Weekly musings from your editor. Oil priced at US$130 per barrel is not good news. Ignore this message at your own peril.

The Westpac-MI Index of Consumer Sentiment has fallen to its lowest level since 1992, a decline seen as likely to keep the RBA on the sidelines with respect to interest rates.

That Foster’s should downgrade earnings and write down assets is irrelevant. What is relevant is what happens next.

A surging population in Australia and an influential new relationship with China is changing the face of Australia’s economy, according to CommSec.

Salmon farmer Tassal Group has a solid earnings growth outlook but this is largely priced according to Austock Securities, which has initiated coverage with a Hold rating.

ChemGenex re-owns the rights to its omacetaxine compound and with the company now focused on cancer ABN Amro Morgans sees it as a possible corporate target.

This week sees the US holding its breath for the monthly CPI while inflation expectations in Australia will be closely scrutinised.

Market speculation is increasing Transurban will need to cut distributions to free up funds for capital expenditure, but brokers see value in the stock regardless.

US airlines are facing their toughest challenge since 9/11, while locally one broker questions Virgin Blue’s ability to survive. Qantas continues to slash capacity.