Good morning Andrew,
Markets are surprisingly stable after Italian bond borrowing costs jumped in the latest auction.....Surprise; Italy might need a European Community bailout......With two trading days left before Greece votes its Eurozone fate, European stocks are 0.4% lower.....The Euro currency remains steady at $1.2578 up 16/100ths of cent versus the U.S. Greenback......
In late morning London trading we find the metals steady and little changed.....Silver is $28.98 off 2 cents......Gold is $1.00 higher at $1620.00.....Palladium sits at $623.00 off $1.00.....Platinum is up $14.00 and changing hands at $1483.00 per ounce....Oil is 25 cents per barrel higher at $82.87......
Turning towards New York; early indications call for the Dow to open 21 points higher in advance of this morning's U.S. economic data.....Wall Street expects to see 375,000 first time claims for unemployment, 2000 less than last week.....On the inflation front the Consumer Price Index is expected to show inflation non-existant at the retail level...The estimate calls for the CPI to clock in with a decline of 0.2% versus the prior reading of 0%....
In other noteworthy news, Angela Merkel spoke to the German Parliament about Germany's role in fixing the European debt crisis....I have attached a link to a Bloomberg news article that talks about Ms. Merkel's speech....Please take a minute to read the article....
That's it.....Have a good morning.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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