Khuram Chaudhry Markets Quotations

Markets in Europe moved down after a turnaround in the U.S. markets. The good news was that the Bank of England cut interest rates at the same time other European bourses and the Bank of Japan joined in.

While this appears no more than a routine reshuffle, September's review is likely the impact the markets in a positive way.

It seems like the U.S. markets are likely to see a sloppy start after Friday's sessions,

In that environment, markets could retest lows, but if we get the policy response then we'll get more of a rally.

The markets are still very defensive in tone. Airlines are still being hit quite sharply. But we saw some renewed interest in some of the telecommunication names.

The likelihood that oil hovers near the $59 mark is not a positive for markets because at that level investors are now looking at new highs for the commodity.