Watch the video here on our Video Page.
Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including data out overnight showing that that US Factory output rose for the first time in 18 months, reinforcing hopes of a recovery in GDP in the world's largest economy. There were also fresh signs overnight of an improvement in European and Japanese factory output.
The IMF, meanwhile, has forecast 3% growth in the global economy in 2010, up from a previous forecast of 2.5%. Is it time to start withdrawing the stimulus to avoid an inflationary spike? An exit strategy for all this monetary and fiscal stimulus would be nice.
However, this failed to get the US stock markets in a good mood. The Dow was down 2% in late trade after financial stocks sold off on fears of a fall in global stocks through September.
Meanwhile, good news overnight in Fonterra's monthly auction with the average milk powder price rising another 24% to levels last seen in October last year. This is good news for regional economies if it lasts to the end of the 2009/10 season and is reflected in a higher milk payout. Fonterra is also expected to announce new plans for capital structure reform within days.
Finally, Ebay is looking to sell Skype for about US$2 billion.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.