The Market Wrap 11-1-13

By Jason Fittler

Quote of the week: "When I was a boy I was told that anybody could become President. Now I’m beginning to believe it." —Clarence Darrow

This year has certainly started on a positive note.

I have been looking forward to 2013, as it is certainly the year when change will start.

DO not get me wrong, I am not looking for a Bull Market this year but I expect that the change needed to get the market back on track has started and will continue throughout 2013.

The average prediction amongst the professionals in the industry is that the 2013 points market will close around 4600. Now some brokers had predictions as high as 5100 points while others at 4000 points.  So as we move into 2013 we should continue to focus on income as growth is still a long way off.

The “Fiscal Cliff” has been effectively been pushed back a couple of months along with the US “Debt Ceiling” problems.

In Australia, the election will be the key for Australia companies as they are looking for stability. A majority government will give the big end of town the confidence to move forward with capital spending.

We can expect the Aussie dollar to stay high, interest to remain low, house prices not to move, unemployment to increase and our market to remain volatile.

Investing for income is still the key strategy. 

Coming Up This Week

Australian housing finance for November figures

New motor vehicle sale December

CPI in the US for December preview

Consumer Inflation Expectations

Labour force for December

Construction activity