Good morning Andrew,
Market sentiment is strengthened in overnight trading after 25 of 27 European nations ratified a new treaty which calls for strict fiscal controls....Furthermore; the Greek debt settlement is once again believed to be imminent....As a result we find the Euro currency up 53/100ths of U.S. cent at $1.3187.....Crude Oil is sharply higher with traders expecting to see a jump in today's Consumer Confidence report; not to mention the European sentiment....Last on Oil $100.20 up $1.42 per barrel.....Euro-zone stocks are higher by .75-1.4%.....Over in London metals trading we find Silver up 15 cents at $33.65.....Gold and Palladium each gained $9.00 to $1739.00 and $699.00 respectively.....Platinum sits at $1625.00 up $7.00....Looking at the domestic open; Dow futures indicate a 61 point higher open with traders keying off Europe, and on expectations for good economic data today.....We start with the Case Shiller 20 City Home Price Index where the estimate calls for year to year prices to be down 3.2%; a shade better than the prior reading of down 3.4%.....Chicago Manufacturing is also expected to show signs of further improvement....Look for a reading of 62.8 versus 62.5......Today's main event will be the January Consumer Confidence report where Wall Street expects to see a reading of 67; well above December's 64.5.....Always remember that confidence spurs buying, and buying drives the bulk of the economy....In other stock market related news Wall street is preparing for the initial public offering (IPO) of social media giant Facebook....In Middle East matters it appears Syrian President Assad is close to fleeing the country as list of deposed Arab leaders grows....In U.S. political matters; Florida Republicans are voting today to determine its nominee for the next presidential election....Gingrich and Romney continue to be the front runners......That's it.....Have a good morning.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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