Good morning Andrew,
Let's start with Europe where stocks are higher by .3% despite still no news out of Greece....The positive sentiment stems from a surprising improvement in European manufacturing activity.....Euro-zone PMI Manufacturing clocked in with a reading of 50.4 versus 48.3.....Remember; any reading north of 50.0 represents expansion in manufacturing activity...With European recession worries in high gear, traders got a breath of relief......The Euro currency is edging higher by 27/100ths of a cent versus the Dollar.....Last trade $1.3162.....Likewise; Crude Oil is nudging higher....Last on Oil $96.55 up 19 cents....Meanwhile metals seem to be consolidating with traders playing close to the vest in anticipation of this morning's U.S. employment data......Silver is 14 cents lower at $34.01.....Gold is up $1.00 at $1757.00.....Palladium sits at $711.00 also up $1.00......Platinum is unchanged at $1633.00.....A quick look at today's U.S. economic data shows January Non Farm Payrolls projected to be 155,000; well below December's seasonally boosted 200,000....The U.S. Rate of Unemployment is expected to be unchanged at 8.5%...Not very inspiring!......Later in the day we get the January reading of the Institute for Supply Management Services Index (ISM Services).....The Street expects to see a reading of 53.1 versus 52.6; a good comparison....Factory Orders for December look to be up 1.5% as opposed to November's rise of 1.8%....A non event given the normal seasonal factory slow down during the holidays....U.S. stock traders seem to taking a wait and see attitude with Dow futures indicating a 20 point higher open.....So with one eye on the European news wires, and the other on the U.S, business wires; that's it.....Have a good morning.....Call for strategies...
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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