Good afternoon Andrew,
Global markets surged today as central banks around the world acted in unison to provide massive amounts of liquidity to the global banking system...China used a different tactic by lowering reserve requirements for it's banks....The result is the same.......The relief was instantaneous with broad based advances around the world.....The euphoria intensified as today's U.S. economic data clocked in with surprisingly good results.....The ADP Employment Survey reported new private sector jobs rose by an eye opening 206,000 versus expectations of 125,000....Traders were quick to say the jump was athe result of temporary holiday employment....The Chicago Purchasing Managers Index of Manufacturing also surprised with a reading of 62.6; well about the estimate of 57.5.....Traders went into a buying frenzy.....The Dow surged by over 400 points......Wow!....Europe closed with gains of 4-5%.....The Euro currency rose 1.4 cents against our Dollar .....Last trade $1.3440......Crude Oil lifted on the liquidity news with traders ignoring a larger than expected 3.9 million barrel rise in the Weekly Inventories....Last on Oil; $100.85 up $1.06 per barrel....Metals rebounded across the board......Silver jumped 93 cents to $32.90.....Gold added $33.00 to $1746.00.....Palladium tacked on $26.00 to close at $611.00.....Platinum ended at $1562.00 up $20.00....Trading was heavy everywhere......This just in; The Fed Beige Book indicates business conditions improved in most of the Fed's 12 districts......What a way to end the trading day.....When we return tomorrow the calendar continues with the Initial Weekly Jobless claims, the ISM Manufacturing Report, and the latest Construction Spending data....This will lead up to Friday's all important U.S. employment report and the overall rate of unemployment.....I'll be back in the morning with the estimates along with any overnight news developments....That's it......Have a good afternoon....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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