| Dear Andrew,
Metals stabilized in overnight trading after Thursday's sharp sell-offs....Perhaps sanity returned to the markets....Perhaps its today's weaker Dollar.....Regardless; Silver is up 14 cents at $17.02.....Gold is $9.00 higher at $1265.00 per ounce.....Palladium sits at $783.00 up $13.00.....Platinum is $1230.00 up $8.00....
In currency trading the Euro is up about a third of a cent against the Dollar....Last trade $1.1352 up 33/100ths of a cent.....The Japanese Yen is also firmer against the Greenback this morning....
On the energy front; the price of Oil is up 49 cents per barrel; also on the back of a weaker Greenback....Last trade $45.02 per barrel.....
In the global stock market arena; Asia ended the day solidly lower except for Japan....It gained 0.38%......Meanwhile; European prices are mostly marginally lower with the exception of Spain where prices are up a modest 0.16%.....In New York the Dow is being called to open 44 points lower after yesterday's eye popping gain of 226 points....
Today also carries a final barrage of U.S. economic data for the week.....The advance look at the 4th Quarter GDP is calling for growth of 3.2%, quite a bit lower the prior report of 5%.....Next comes the Chicago PMI Manufacturing Report where the Street expects a reading of 58 versus 58.3.....This gets followed by the final reading of the January University of Michigan Sentiment Index of consumer Confidence....Look for 98.2 versus the Preliminary reading of the same 98.2......
In other news; the central bank of Russia has dropped interest rates from 17% to 15%, hoping to spark economic growth...Are you kidding me?!.....That's it.....
| 
No comments:
Post a Comment
Keep a civil tongue.