It would be remiss of me not to mention the horse race(s) that are on today. I would like to say that predicting stockmarket indices values for any time in the future is like predicting the results of a horse race. Experts on horses can intimately know the details of every horse that is running in a race, but they generally can't beat the market(bookmaker). Similarly, the best predictor of the future value of an index is the current value of the index (similarly with commodity prices etc.) which doesn't mean it is likely to stay the same either.
On other news I have found an article that explains Why the free media is biased. Something that had bothered me since it was discussed on Klaus Rohde'd blog earlier in the year. It restores my faith in free media, especially over the government controlled sort.