Good afternoon Andrew,
Markets picked up additional steam in the wake of this morning's ADP Employment report which showed private sector jobs up some 216,000....Pretty much on target.....Traders got another boost of confidence after the Fed announced another new bond buying program intened to flood the markets with even more liquidity......Traders quickly rushed to the buy side adding on to an already solid start to the day.....The Dow is currently up 72 points....Looking across the Atlantic Euro-zone stocks closed with gains of .5-.9% as preliminary results show solid participation to the Greek private investor debt swap....The Euro currency remains marginally higher at $1.3136.....In metals trading we got a good bounce as well.....Silver ended the New York trading day up 53 cents at $33.51......Gold gained $9.00 to $1683.00.....Palladium rose $12.00 to finish at $686.00 per ounce....Platinum closed at $1632.00 up $14.00.....Trading was moderate.....Meanwhile the price Oil climbed $1.42 per barrel in the aftermath of a much smaller than expected rise in inventories....The EIA report showed a gain of 832,000 barrels; well below yesterday's API rise of 4.6 million....Someone has his math wrong......Last on Crude $106.12 per barrel....In other markets technology stocks are strong in sympathy with the just announced release of the New Apple I- Pad....That's it.....When we return tomorrow the calendar contains only one report of significance in the form of the Initial Weekly Jobless Claims....I'll be back in the morning with that estimate....Have a good afternoon....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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