Good morning Andrew, and Happy New Year,
Wall Street is set to welcome the new year with strong opening gains, as global markets rally and investors await U.S. manufacturing data as well as minutes from the Federal Reserve's December meeting......Dow futures are indicated to open with a gain of 210 points; following solid gains in both Asia and Europe...Elsewhere; geo-political anxiety is on the rise after Iran threatens the U.S. Navy in the wake of fresh sanctions against Tehran....Adding to the drama; Iran has reported successfully manufacturing it's own nuclear fuel rods....Just what the U.N. needs!.......Needless to say; Oil has taken a jump with prices up $2.61 per barrel at $101.44.....Precious metals led by Gold are higher across the board.....Silver is up 80 cents at $28.78....Gold is $30.00 higher at $1595.00.....Palladium sits at $660.00 up $11.00.....Platinum is changing hands at $1414.00 up $19.00 per ounce.....In an interesting twist the Euro currency remains firm despite the growing geo-political anxiety....Normally you might expect to see the U.S. Dollar rally in the face of global worries.....Last on the Euro $1.3037 up 1.05 cents versus the Greenback.....As for today's U.S. economic data; the ISM Manufacturing index is expected to clock in with a reading of 53.4; up from 52.5.....Construction spending for November is estimated to have grown by .5%; less than October's gain of .8%; but a gain nonetheless........Traders will also be anxiously awaiting today's release of the minutes from the last Fed Open Market Committee Meeting (FOMC); hoping to glean the next move by the Fed........That's it......Not a bad start to the new year.....Have a good morning......
Peter R.....Southern Trust Metals, Inc....
Toll free 1-877-448-0080
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