MARKETS

The Australian sharemarket edged higher, making up for part of last week's 0.3 per cent slide. The All Ordinaries Index (XAO) rose by just 0.1 per cent and volume was light ahead of market closures in both the US and Canada (Labor Day) tonight. Slightly weaker than forecast readings on the health of China's manufacturing sector held back the miners this afternoon while the Australian dollar remained firm. The XAO is only 0.7 per cent away from re-visiting six-year highs.

The local share market has started the week on a positive footing, gravitating towards the 5650 area for the ASX 200. Sentiment was helped by US share markets which ended modestly higher on Friday. Investors remained wary as they monitored both the situation in Ukraine and mixed economic data in addition to a wariness about taking on new positions ahead of a holiday weekend. Domestic sellers remain wary of the underlying strength of US stocks with the S&P 500 index closing at record highs; while...

Global markets are in for a big week on the central bank front, with the RBA, BoE, BoJ, BoC and ECB all set to meet. In the background will be the threat of Russia/Ukraine tension derailing the recovery. EU leaders are likely to impose further sanctions on Russia this week if no resolution is reached. As a result, while investors will be optimistic about potential central bank action, particularly from the ECB, there is likely to be a degree of caution exercised.

In US economic data, the Chicago purchasing managers index rose from 52.6 to 64.3 in August - the biggest monthly point gain since July 1983. US personal income rose by 0.2% in July with spending down by 0.1% - both results fell short of forecasts. And consumer sentiment rose from 79.2 to 82.5 in August, above forecasts for a result near 80.1.

Buyers and sellers exchanged blows over the course of the session on Friday. Buyers were able to land the final blow which allowed the ASX 200 to end the day with a gain of 1.5 points. The month has yielded a similar outcome in terms of scale, with the index losing 0.12%.

The Australian market is unchanged at lunch, with weakness from the mining sector and consumer staples holding the broader market back. Shares in the US fell for the first time this week while remaining near record highs. Stronger than expected US economic growth last night was offset by tensions in Eastern Ukraine. US markets will be shut on Monday for a holiday.

Equities retreated as geopolitical risk reared its ugly head yet again. News that Ukraine-Russia tension is flaring up again sharply spooked investors, with reports suggesting Russia has even more troops in separatist territory. These reports were backed by NATO images and President Obama has since warned of more sanctions against Russia.

In US economic data, the economy grew at a 4.2% annual pace in the June quarter, up from the "flash" estimate of 4% and above forecasts of 3.9%. New claims for unemployment insurance fell by 1,000 to 298,000 in the latest week and below forecasts of a result near 300,000. And pending home sales rose by 3.3% in July, above forecasts for a 0.5% gain.

Despite naysayers crying the stunted recovery of the U.S. real estate market due to a slowdown in home price increase, one expert notes that the slowdown is actually good for the economy.

Local sellers have been chastened by the performance of US stocks over the course of recent sessions. US indices may have been flat in overnight trade but the willingness of the S&P 500 to remain in the range of the 2000 mark has meant that domestic sellers have been wary of committing themselves wholeheartedly as the broader US market runs the risk of breaking higher through one of the more significant technical levels of recent history. Sellers pushed the ASX 200 down by 24 points in the openi...

Japan is encouraging its young people to invest in the stock market through a plan to expand an existing tax-free investment program that targets citizens aged 20 and above.

Volumes are down, trading activity is subdued and the Street is nonplussed about a key driver for the next leg up or down. The current situation has the bullish and bearish views sitting at around 50/50 as the market awaits the first two weeks of September and the meeting of central banks.

In US economic data, the weekly mortgage market index rose by 2.8% with the purchase index up 2.6% and the refinancing index up by 2.8%.

The uptrend momentum on the S&P has continued unabated, as it breached and held 2000 points for the first time in its history this morning.

n US economic data, the CaseShiller home price series fell 0.2% in June, weaker than expectations. But the FHFA home price series rose by 0.4% in June to stand 5.1% higher than a year ago. Durable good orders rose by 22.6% in July, but excluding aircraft, orders fell by 0.5%, below forecasts of a 0.5% gain. And consumer confidence rose from 90.9 to 92.4, above forecasts for a result near 89.0 and the highest level since October 2007.

Local shares were flat footed in early trade on Tuesday, despite solid improvements for US stocks overnight which included the S&P 500 briefly lifting above 2,000 points for the first time. A continuing theme on Tuesday has been the weakness in the resource sector after commodity prices finished the northern hemisphere sessions with mixed fortunes. Investors remain wary of iron ore after prices fell 2% in the last day. More significant however is that prices have fallen below $US90 per tonne. Wh...

The reactions from the US and Europe to the news out of Jackson Hole over the weekend were as expected - green on the equities front and red for the EUR.

In US economic data, new home sales fell by 2.4% in July to a four month low. New home sales are up 12.3% on a year ago. A lift in the stock of properties on the market and slower price gains should help stimulate demand in months ahead. The Markit Services Purchasing Managers Index dipped from 60.8 to 58.5 in July.

Most experts would probably agree that there is no exact formula to becoming a successful real estate agent. But one thing that's going to make a difference in an agent's budding career is understanding how to build a solid reputation and impact in the local community. According to Australian agent and Century 21's top Australian salesperson for three years, Stephanie Hearne, it takes three things to accomplish that, and she expounded on these in a piece she wrote for Property Observer....

A Wells Fargo/Gallup Investor and Retirement Optimism Index study in late June found that many investors are unaware of the true state of the stock market. The bases of that conclusion were the responses of American investors who had at least $10,000 in stocks, bonds, mutual funds, or retirement accounts.

Monday saw sellers return to the Australian share market for the first time in 7 session. Buyers made several early attempts at pushing the index higher, although they were thwarted on each occasion. The ASX 200 opened with a loss of 7 points; at session highs it was almost 5 points to the better. At the nadir of the day the market was at a deficit of 20 points. There was little inspiration on offer throughout the region. Investors remain wary of the Chinese bourse after last week's weaker re...

In US economic data, the weekly Economic Cycle Research Institute index fell from a 3.6% annual rate to 2.8%.

After speculative trading on Wednesday and Thursday around the prospect of rates rising sooner than expected based on the release of the Fed minutes, the weekend's Jackson Hole Symposium has quickly put a lid on these theories.

The local share market spent the final session of the week consolidating on the improvements of the last 5 days. Friday's gain meant that the ASX 200 has risen by just under 1.5% this week. The status quo amongst the sectors largely remained the same over the course of the second half of the day. Miners remained under pressure reflecting the weaker Chinese PMI data seen on Thursday.

There were mixed signals out of the US session overnight. Better than expected growth figures were balanced by the US Fed's view on inflation with the central bank indicating that the risk of lower inflation has diminished. This came in the change to the FOMC statement which revised down the risks of inflation remaining below the 2.0% target with the banks saying "the likelihood of inflation running persistently below 2% has diminished somewhat". Whilst only a small one, it was a step c...

U.S housing starts rose sharply in July, indicating what appears to be a stunted recovery for the local housing market is now "back on track," according to a report on CNBC on Wednesday.

TheTel Aviv Stock Exchange (TASE) may soon have competition as Haifa, the third-largest city in Israel, wants to open a second bourse that focuses on technology-based stocks.

More record prints for the S&P as it's now within eight points of 2000, a psychological milestone.

In US economic data, weekly claims for unemployment insurance fell by 14,000 to 298,000, below forecasts for a result near300,000.