Nick Scali Furniture

Oh how he turns around, and how quickly.

World markets have soared overnight, the Australian dollar surged against the yen and U.S. dollar and our market is expected to jump sharply this morning.

The Standard & Poor's 500 Index jumped 91.56 points, or 10.79%, to 940.48 after sliding to its lowest level since March 2003 yesterday.

The Dow jumped 889.35 points, or 10.88%, to 9065.12 and the Nasdaq ended 9.53%, or more than 140 points. benchmark Hong Kong added 14%, its best advance in 11 years, while Germany climbed by 11% and struggling in Brazil increased by 13%.

London has increased by less than 2%: the increase in Germany due to a surge in Volkswagen shares that Porsche has surprised the market by revealing that it had assembled a command% 7% market buying and play on the derivatives markets.

Hedge funds suffered heavy losses because they were short-circuited by VW and got trapped as the share value has risen to the point where the automaker has been the largest company in the value world

The futures market was the night that reports an increase of 6% in the 240 ASX 200 or more points ..

It was after one of the most explosive last couple hours of trading ever seen on Wall Street. Therre was a gain of 500-600 points in the last hour.

The Dow posted its second-best points higher than the lowest estimates at 23 years lured investors and increased commercial paper sales marked the credit markets are thawing.

In addition, there is now a belief that the Fed will announce a rate cut of 0.50% after the current meeting ends tomorrow morning our time.

The yen fell the most against the dollar since 1974 and posted its biggest drop against the euro over as global stocks rallied and speculation increased that the Bank of Japan reduced interest rates.

It was reported in Tokyo the night of an intention to reduce the rate by 0.25%, which would halve the rate of the Bank of Japan. The central bank meets Friday in Tokyo.

Who saw the accident yen, suffering its biggest loss against the dollar since 1974. It fell 5% compared to the U.S. dollar in New York. It fell 11% to 62.70 yen against the Aussie and 10. At 55.19% against the NZ dollar.

The Australian has jumped 7% to 64.28 U.S. cents after touching 60.09 cents yesterday, the lowest level since April 2003.

The Reserve Bank of Australia has bought dollars for a third day yesterday to stem losses and is now sitting on profits of Nice as some of the first action on Friday night was around 55 Yen ..

Sales of long-term commercial paper soared 10-fold after the Fed indicated that two days to support the U.S. market collapse of commercial paper of companies, if it had revived.

The Fed started buying commercial paper Monday alone saw yesterday on the market in 1511 companies sold bonds amounting to a record US67.1 billion of debt due in more than 80 days.

This compares with a daily average of 340 issues valued at US6.7 billion last week. Dealers said the Fed has represented U.S. $ 60 billion of the total.

The Dow's gain one point more per day was on Oct. 13, when the gauge of 30 stocks jumped 936 points on the government's plan to buy stakes in banks. We know that plunged several times after that, then that would be wonderful for a day.

Now, for rate cuts by the Fed, but a price in the market will fall?

.............

Business confidence continues to decline, according to the latest survey from the National Australia Bank monthly business survey.

While this is grim news, there were a couple of other worrying portents of the NAB survey and other announcements yesterday.

Residential property prices are looking stretched and.