Shares in Australia edged higher in morning trade as theOvernight stateside, the Dow Jones Industrial Average closed 98 points higher at a fresh record of 33,171. The S&P 500 declined fractionally on the day to 3,971.09 while the Nasdaq Composite dipped 0.6% to 13,059.65.The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.944 as it largely held on to gains following its rise last week from below the 92 level.
The Japanese yen traded at 109.82 per dollar, still relatively weaker than levels below 109 against the greenback seen last week. The Australian dollar changed hands at $0.7634, off levels below $0.762 seen in the previous trading week.
WallStreet 'advisers' and mass media: CNBC, Bloomberg have to be very proud for luring clueless retail 'investors' into the biggest StockMarket BUBBLE in history! This is what they are paid for by big corporations - turning retail investors into bagholders!
More margin calls to come! Banks are forsed to reduce their exposure to margin loans! With SLR exemption expiring on March 31, banks would significantly reduce margin loans lending. Let's see how speculators will do without margin loans.
Who cares about the Dow?