Good morning Andrew,
Markets are nervous as the European Financial Summit gets under way, and here in the U.S. traders wait to hear the Supreme Court decision over Obamacare.....
Looking across the Pond we find stocks lower by 1%- 1.7%.....The Euro is down another 42/100ths of a U.S. cent at $1.2430.....Crude Oil is off 16 cents at $80.05 per barrel.....
Metals are modestly weaker....Silver sits at $26.90 off 18 cents......Gold is $11.00 lower at $1569.00 per ounce.....Palladium is $580.00 down $3.00.....Platinum is changing hands at $1407.00 off $9.00.....
In New York we find Dow futures indicating a 66 point lower open, mostly for the reasons mentioned above.....However; traders are also facing two additional pieces of U.S. economic data....The Weekly Jobless Claims are expected to have remained at 385,000, same as last week....Next comes the third revision to the first quarter U.S. Gross Domestic Product (GDP)....The estimate calls for growth to be 1.9%, same as the second estimate....
In other news China has announced a willingness to allow its currency to finally float freely against the other global currencies....That's big if true.....Last but not least; rumors are floating that the trading loss sustained by J.P. Morgan may have swollen to $9 billion....Once again if true, Wow!.....
So; will the European leaders come up with a magic bullet to the Eurozone fiasco?....How will the Supreme Court decision affect trader sentiment?....
That's it....Call to receive our latest informational package on precious metals investing....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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