Good morning traders!

On Wall Street last night, lower oil prices gave a boost but mixed economic data caused profit-taking. Early buying interest was sparked by growing optimism, a strong outlook for 2005 and a 4% sell off in crude oil, down $1.33 at $42.12, following forecasts of warmer than expected weather in the Northeast US, that kept sellers on the sidelines.

However, within minutes of mixed economic results, market internals turned negative for good and the major indices broke through key technical levels.

The DJIA closed down 53.58 points at 10,729.43 with the Nasdaq 23.29 weaker at 2,152.15 and the S&P500 9.84 lower at 1,202.08.

Trading on Asian markets is largely negative this morning, although the Nikkei has managed to stay positive so far.

Happy trading!

G

MARKETS:
DJIA 10,729.43, down 53.58
Nasdaq Composite 2,152.15, down 23.29
S&P 500 1,202.0, down 9.84 points
Tokyo: Nikkei closed at 11,517.75, up 28.99
Hang Seng midday 14,059.26, down 178.16
Gold 438.1 (437.20)
Oil - Brent Feb 40.46 usd (40.35)

BREAKING NEWS - TUESDAY
* CORUS heads ThyssenKrupp's shopping list - FT
* EASYGROUP considering launching mobile services in Netherlands, Greece and Germany - FT
* Deutsche Boerse denies plans to spin off Clearstream to aid LSE takeover - Independent
* Car prices set to rise as cost of steel and energy soar - Times
* Lazard finalises plans for 3.2 bln usd New York flotation - Times
* L&G awaits decision on appeal over 1.1 mln FSA fine - Times

PRESS COMMENT
FT
THE LEX COLUMN comments on the outlook for equities in 2005, crude oil prices, the possibility of a tie up of Rossignol and Quicksilver or K2.

BRITISH LAND AND HAMMERSON DOWNGRADED TO 'NEUTRAL' FROM 'BUY' AT MERRILL LYNCH
WOOLWORTHS SAYS TRADING WEAK IN NOV; ENTERTAINMENT, TOYS SALES 'DISAPPOINTING'

LAND SECURITIES AND LIBERTY DOWNGRADED TO 'NEUTRAL' FROM 'BUY' AT MERRILL LYNCH

REED ELSEVIER UPGRADED TO 'OVERWEIGHT' FROM 'UNDERWEIGHT' BY LEHMAN
EMI DOWNGRADED TO 'UNDERWEIGHT' BY LEHMAN BROTHERS

WPP DOWNGRADED TO 'EQUALWEIGHT' BY LEHMAN BROTHERS

Woolworths is the first rtailer to say they have not quite got it right over Christmas.

Expect a knock on from them to other retailers.

Morning all.

Morning all, a nice positve start to the Year!

Scrip - many thanks for your thoughts - much truth and inspiration
in there for many of us. :>)

HNY to all! and what a great year 2005 will be!

HNY is that a good tip ?

Happy New Year HAS to be the tip of the month SWW!
;>)