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The local share market has seen a second, second biggest rise all year with more than 90 per cent of the ASX 200 making gains. And that's all on hopes that the breakthrough in the deadlock1 in Washington over raising American debt ceiling as negotiations2 continue between the Republicans and Democrats3, but Mike Micarzy says the optimism may not last.
“It may be very short-lived. One of the concerns here is that the current proporsal has been put out publicly to push the debt ceiling back to Nov. 22. It's only a very short-term solution, but the market will be comforted by the the facts the talks have begun in giving the collected view that to fall on debt would be an insane position for the US to take, ah...since market's quite confident there will be a resolution.”
Taking a look at the figures.
And the All Ords and the ASX 200 finished up around 1.6 per cent. Taking a look across the region and it also gains across there. The Nikkei up by 1.2 per cent. That follow gains on Wall Street overnight. The Dow jumped 2.2 per cent. The S&P 500 added two per cent. And the volatility4 index in Chicago which tracks the strees levels of investors5 plunged6 back to levels not seen before the partial government shut down in the US.
Taking a look at commodities and overnight the spot gold price dropped sharply and remains7 below 1,300 US dollars an ounce.
And the Australian dollar's been picking up against most of the major currencies now and it's now cruising up towards 95 US cents.
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1 deadlock | |
n.僵局,僵持 | |
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2 negotiations | |
协商( negotiation的名词复数 ); 谈判; 完成(难事); 通过 | |
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3 democrats | |
n.民主主义者,民主人士( democrat的名词复数 ) | |
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4 volatility | |
n.挥发性,挥发度,轻快,(性格)反复无常 | |
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5 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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6 plunged | |
v.颠簸( plunge的过去式和过去分词 );暴跌;骤降;突降 | |
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7 remains | |
n.剩余物,残留物;遗体,遗迹 | |
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