Hello traders!

In the US tonight, the Dow was last down , 159.65 points at 13,392.04, while the
S&P500 dipped 16.85 points to 1,480.81 and the Nasdaq Composite was off 39.24
points at 2,685.07.

See you in the morning with the latest....

G.

Morning all. Market reports:

Telegraph
The Times
The Times (Need to know)
The Guardian
This is Money

Hopes of a further cut in interest rates in the New Year rose yesterday after fresh data showed the housing market in its worst state for years, with mortgage approvals last month tumbling by more than 40pc on November last year.
Hopes raised for rate cut as housing tumbles

Fresh evidence of a squeeze on consumer credit emerged yesterday as one of Britain’s top sub-prime credit card issuers pushed through a huge rise in its lending rates. Marbles, the private equity-owned card provider aimed at borrowers with patchy credit histories, is preparing to hit some of its 338,000 account holders with annual interest charges of as much as 33.9 per cent for cash advances. Marbles will also charge an annual 26.9 per cent rate of interest for purchases.
Huge rate rise looming for sub-prime credit card users

British manufacturing companies will withstand the effects of the credit crunch and hold their own in the face of competition from emerging markets in 2008, according to experts.
UK manufacturing to survive credit crunch

Brokers and money managers struck a bullish note yesterday about the market's prospects, forecasting yet more gains for equities despite mounting fears of a slump in growth and the possibility of new sub-prime skeletons in 2008.
Brokers predict FTSE 100 will break through 7,000 in 2008

Goldman Sachs expects a sharp rise in credit-crisis related writedowns at Citigroup, JP Morgan Chase and Merrill Lynch, with a total of up to $33.6bn (£16.9bn) being lost in the fourth quarter.
More pain for top US banks

Goldman Sachs took the knife to its Wall Street rivals yesterday, predicting that the credit crunch would force Citigroup to slash its dividend by 40 per cent. At the same time it emerged that Merrill Lynch was preparing to cut 1,600 jobs from its trading desks.
Goldman says that Citigroup must slash dividend

Merrill Lynch is the latest American bank to go to the sovereign wealth funds of the Far East for finance. Will the UK banks be forced to follow suit?
Bankers rush to raise capital

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

Good morning traders!

In Asia today, the Nikkei closed a truncated session down 1.7% at 15,307.78,
while the Hang Seng fell 1.1% to 27,546 in morning trade.

New York's main oil contract, light sweet crude for February delivery, was 39 cents
higher at $97.01 a barrel after closing 65 cents higher in New York.

Happy Friday!

G.

Australian shares close lower on thin volume after Bhutto assassination - UPDATETFN economic and business calendarThomson Financial Europe AM at a glance share guide: Stocks mixed; oil up

TFN UK calendar and forecasts for today

The Friday Press Roundup

Thomson Financial UK at a glance share guide

London shares outlook - Weaker after sharp falls in New York, Asia

STOCKWATCH British Energy up; Goldman Sachs lifts target to 693p, repeats 'buy'

Metals - Gold steady near 1-mth high on weak dollar, safe haven buying

London shares - midmorning features

STOCKWATCH Heineken up on Syabar buy; investors wait also for S&N developments

STOCKWATCH Corp Dermoestetica falls sharply after selling UK arm to 3i

Metals - Copper eases as weak economic data, risk aversion curb buying

US futures edging higher

London shares - midday features

Midday Market Roundup

Precious Metals Summary - London AM Fixings

Metals - Gold hits new 1-mth high on geopolitical tension, weaker dollar

OUTLOOK Next kicks off Christmas trading updates with expected fall in LFL sales

Precious Metals Summary - London PM FixingsLondon shares - midafternoon features

TFN economic and business calendar to Friday Jan 11

End-of-day Market Roundup

Have a great weekend everybody....

Alan