ASX will be mixed this Week
By SmallStocks on Oct 20, 2008 in ASX
Given the Dows (DJI) performance last Friday, you would think that the ASX will be either down or swinging for the week. The Dow closed down 127.04 points – or 1.41% – last Friday, and so whether the ASX will follow US’s sentiment will be unclear. Last week Rio Tinto’s (RIO) announcement on the state of the Chinese market really shook up many investors and so the end of the week was pushed lower.
Today, that sentiment may continue in the market – or investors may focus on the fact the Dow Jones (DJI) ended the 5-day averaged week higher. Remember, this week in the US is “Reporting Week” – and a huge swather of companies are releasing there third quarter reporting details. This will really start to show the true depth of the financial crisis and let us know how things are going.
Stay tuned for a wild week I think.
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