wall street strong

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    Wall Street strong
    November 13, 2005 The Age

    Shares are set to head about 10 points higher tomorrow, consolidating on last week's gains, after another positive session on Wall Street on Friday.

    But while US market experts are calling the US sharemarket as much as five to 10 per cent higher from here by the end of the year, local stock-watchers believe gains on the Australian sharemarket will not be as great.

    US shares have been flat all year despite strong US profit results. The Australian sharemarket and others around the world are up. Australian shares have posted a 12.9 per cent gain to date, whereas the Dow is 0.9 per cent below where it started.

    Wall Street has upward momentum behind it, according to experts, and a continued fall in the oil price to $US57.53 a barrel together with solid US corporate news sent US shares higher on Friday night. The Dow added 45.9 points, to 10686.0.

    CommSec chief equities strategist Craig James said Australian shares would be setting themselves up for a fall if they followed Wall Street at this rate.
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