Hello traders!

In the US tonight, the Dow was up 9.36 points at 12,694.28, while the S&P500
was down 1.28 points at 1,380.01 abd the Nasdaq Composite ahead 8.79 points
at 2,353.78.

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

G.

Morning all. Market reports:

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

Federal Reserve chairman Ben Bernanke hinted at the prospect of further interest rate cuts as he admitted that the US economy is facing attack on a number of flanks.
US fed chief Bernanke hints at more rate cuts

Ben Bernanke, the Federal Reserves chairman, gave a renewed signal today that it will order another interest rate cut next month to bolster the faltering American economy, but hinted at growing Fed anxieties over its ability to stave-off a severe US downturn.
Uneasy Ben Bernanke gives the green light for fresh interest rate cut

United States regulators have ripped up longstanding restrictions on the government-sponsored mortgage companies Fannie Mae and Freddie Mac, freeing them to buy significantly more mortgages and pot-entially to reinvigorate the secondary market for mortgage debt.
US regulators free Fannie Mae to buy up mortgages

The euro has surged to an all-time high of $1.51 against the dollar, prompting bitter complaints from European industry and setting of a sharp sell-off in sovereign bonds from southern states deemed least able to withstand a super-strong currency.
Falling dollar and soaring euro poses threat of jobs exodus

The explosive growth of European hedge funds came to a sudden halt last year as the impact of the credit crunch and volatile market conditions left the volume of new fund start-ups running at its lowest level for at least seven years.
Hedge funds' boom time has ended, says industry researcher

The Financial Services Authority has warned banks that the meltdown in the credit markets will force them to fundamentally change the way they do business forever.
FSA says era of cheap credit for banks is gone

The full scale of the consumer slowdown has been laid bare by new official figures showing that households' appetite for spending fell sharply late last year.
Consumer spending slows down

Indications of underlying weakness in the economy came yesterday as the Office for National Statistics confirmed that the UK economy grew by 0.6 per cent in the final quarter of 2007, giving an official annual growth rate for the year of 3.1 per cent, in line with previous estimates.
Inventory figures worst since 1973

"Britain could have had one of the world's biggest sovereign wealth funds had the windfall from North Sea oil been saved rather than used to cut taxes and boost spending, according to a report out today."
UK 'missed chance to build up 450bn sovereign wealth fund'

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

Good morning traders!

In Asia today, the Nikkei closed down 105.79 points at 13,925.51, while the Hang
Seng ended the morning up 315.84 points at 24,799.68.

New York's main oil contract, light sweet crude for delivery in April, rose 29 cents
to $99.93 a barrel.

Happy trading!

G.

OUTLOOK Redrow set to report weaker margins for H1, clearer view of FY prospectsOUTLOOK Aviva FY profit seen 6.6 pct lowerOUTLOOK Mondi FY pretax profits seen ahead on higher paper pricesOUTLOOK Market anticipates BAT's next cost savings plan; profits likely in lineOUTLOOK Trinity Mirror solid FY to be overshadowed by deteriorating outlookOUTLOOK Royal Bank of Scotland FY profit seen 9.5 pct higherOUTLOOK Bayer Q4 opg seen rising 20 pct on higher drugs, pesticides salesOUTLOOK Ladbrokes FY earnings boosted by high roller telephone activityOUTLOOK Rentokil Initial FY profit seen slightly higher after recovering H2Australian shares close lower as banks lead broad-based sell-off - UPDATETFN economic and business calendar

TFN UK calendar and forecasts for today

Hello testing out this news BB site

Kyoto...Hello there...do you see a profit taking sell off on the Dow today or Friday?

Best wishes

Bongo

Tokyo shares close lower on weak industrial output, stronger yen

BROKERWATCH Enterprise Inns upgraded to 'overweight' by Morgan StanleyThe Thursday Press Roundup

BROKERWATCH HBOS cut to 'sell' from 'hold' at Citigroup; target 600p from 725

*AVIVA POSITIVE ABOUT UK OUTLOOK IN 2008

Bongoman - the Dow's likely to be news driven today and tomorrow - GDP and Jobless Claims today at 13:30 UK time, Personal Income and Spending tomorrow, 13:30, Michigan Confidence at 15:00. Depends on the figures, I'd think.

London shares outlook - lower, as NY ends mixed; RBS FY results in focus

BROKERWATCH ITV upgraded to 'neutral' from 'underperform' at Credit Suisse

Thanks Kyoto...What I was suggesting was possibly as the Dow has had a good run recently despite all economic data , are we seeing a technical relief rally or a geniune rally which can hold as the market looks forward and decides that the dark days or credit are passing?

Bongo

Thomson Financial UK at a glance share guide

Bongo - when we were pulling out of the bear market five or six years ago, that's a question that was being asked a lot. But we only knew the answer months after it became clear that the recovery wasn't yet another 'bear market rally'. The Dow has had a good run recently, but it there's a case which says that the Credit Crisis has gone through its worst, the Fed are hinting at another 50 basis-point cut, and unless another bank/credit market blows up, what's left to provide the downward catalyst? Maybe a recession if it takes hold, but will it? Unfortunately, if I knew the answer in these types of situations - rather than all the questions - I'd have retired years ago :-)

STOCKWATCH Bayer lower pre-bourse as Q4 bottomline numbers disappointTokyo shares close lower on weak industrial output, stronger yen - UPDATE

BROKERWATCH RSA cut to 'underperform' vs 'outperform' at Cheuvreux; target 135p