The Chinese government kicked off proceedings yesterday when it announced a $586bn stimulus package – equivalent to almost a fifth of its GDP last year – to boost domestic infrastructure spending and stimulate their economy which has dropped to an annualised GDP growth rate of 9%. All the cash will be used up by the end of 2010. Resources outperforming on the back of the news
The Dow was up 248. Up all session – up 265 at best. Market overlooked negative employment data and poor 3Q results – market had already factored in the bad news. Unemployment rocketed to 6.5% with a larger-than-expected fall in payrolls – was up a hefty 0.4% in October from September. President Elect Barak Obama said the US requires a fiscal stimulus plan and a rescue package for the middle class. Ford and General Motors ate through their cash reserves in the 3Q. Bonds down. Gold and metals up moderately. A$ up 1.38% against the US dollar – and up 2.39% this morning to 69.17c.
- ▼ October (18)
- Season for margin calls
- Crop rotation & sophisticated soil testing techniq…
- U.S. stocks surges more than 10 percent
- Global recession to last 2 years: Morgan Stanley
- Australian and New Zealand dollars fall
- America on Sale
- Credit crisis is a JOKE
- Will Australia beat RECESSION ?
- First Home buyers Grant TRiples -Property
- Who is shani raja ?
- What started the credit crisis ?
- World stock markets come crashing down !!
- Stock Market Horor Continues in Australia
- Is china slowing down ?
- RBA Rate cut is followed by bank rate cuts
- when the bail out plan needs to be bailed out
- Rakesh Jhunjhunwala – India’s warren buffet Stock …
- Australia’s trade surplus expanded to A$1.36 billi…
