Good morning Andrew,
Markets led by Europe turned higher after Euro zone finance ministers agreed this morning on a temporary increase in their financial rescue capacity to prevent a new flare-up of Europe's sovereign debt crisis....The seemingly good news improved trader sentiment with the Euro currency up 37/100ths of U.S. cent at $1.3342.....Euro-zone stocks are higher by .7 to 1.3%.....Even Crude Oil managed a half hearted bounce....Last trade $103.30 per barrel; up 52 cents....
In London metals trading we find Silver up 44 cents to $32.50.....Gold is $10 higher at $1665.00 per ounce......Palladium sits at $660.00 up $10.00.....Platinum added $20.00 to $1650.00....
In the domestic stock market Dow futures are indicating a 54 point higher open....In case you missed it; the Dow managed to close out Thursday with a 20 point gain after having spent the majority of the trading session underwater.....This morning's higher opening indications are tenuous as traders await this morning's final flurry of U.S. economic data .....
Here are the current estimates: Personal Income is expected to be up.3%; same as the prior reading.....Personal Spending looks to be up .6%; twice January's rate....Good to see the consumer spending......PCE Inflation appears to be tame with the estimate at up .1% versus .2%.....The Chicago Purchasing Managers Index of Manufacturing (PMI) is being called to be 63; a shade lower than February's 64......Last but not least; the final reading of the University of Michigan Sentiment Index of Consumer Confidence for March is expected to clock in at 74.3; unchanged from the preliminary reading....All told; not bad but nothing to get excited about either.....It would appear that the improved European sentiment remains today's driving force, but the day is young....That's it.....Have a good morning....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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