Good morning Andrew,
U.S. stocks are set to open higher today, after a relatively successful bond auction in Spain and ahead of today's final flurry of U.S. economic data....A quick look at the estimates shows us the following: Initial Weekly Jobless Claims are expected to be 375,000; down from 380,000....Existing Home Sales for March are estimated to be 4.62 million units versus 4.59 million.....The Philadelphia Fed Index of Manufacturing looks to be 10.3 as opposed to March's 12.5.....Leading Economic Indicators which attempt to predict change in rate of economic growth six months down the road is projected to be up .2% versus up .7%....The data looks mixed at best, but traders remain optimistic in advance of today's Microsoft earnings report.....Dow futures are currently up 61 points while European markets are up .5%....
Looking at London metals trading we find prices little changed from yesterday's wrap up levels....Silver and Gold are unchanged at $31.58 and $1640.00 respectively....Palladium is $1.00 higher at $660.00.....Platinum sits at $1589.00 up $7.00.....Traders have little to key off of considering the Euro sits flat at $1.3112 off 7/100ths of U.S. cent......In the overnight electronic energy markets Oil is also quiet...Last trade $102.75 up 6 cents per barrel.....
In other matters; India announced the successful test launch of a new nuclear-capable missile that would give it the ability to strike the major Chinese cities of Beijing and Shanghai for the first time....Just what the geo-political environment needs to fill the void in the wake of North Korea's failed rocket launch...I'm being sarcastic...
In a sad note, rock and roll icon Dick Clark passed away yesterday at age 82....
The day is young.....That's it.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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