new thread for friday, page-7

Am I (relatively) an amateur re the financial markets, but last night's USA market has me puzzled, and, consequently, uncertain where to head in the Aust. market.

I thought that last night USA was notably negative, viz.:

* producer price index negative
* overall, not good retail sales figures
* another strong decline in the value of the $ US
* rising commodity prices, adding to USA inflationary pressures
* significantly, strong rise in oil prices
* falling bond rates
* USA housing market seems to be getting worse, with big stock holdings and now declining prices, and the housing market problems seem to be spreading to the overall economy.

Only last week USA market strength was attributed, in part, to the falling oil price. But there was a negative market reaction to a strong fall in the $ US.

Even allowing for high liquidity in the world's markets, I would have thought that last night, with all of the above, the USA market should have tanked.

Am I unduly pessimistic?