Crude oil futures have been one of the beneficiaries of the recent optimism about an economic recovery, rallying 38% in the past five weeks. Recent concerns about the recovery have pressured crude this week. Let’s see what...
Read MoreLots of reports today. The Case/Shiller home price index is out at 8 AM, the Chicago PMI is out at 8:45, and Consumer Confidence is at 9 AM. The USDA reports were deemed neutral for corn and wheat, bullish for soybeans. Cotton...
Read MoreObama offered no real succor for the auto industry this morning. Irish sovereign debt was downgraded, bad news for Europe. Bonds were higher on the bad news, then fell after today’s purchases by the Fed-buy the rumor, sell...
Read MoreStocks were set up for a directional move today, and the financial news put a lot of traders in a bearish mood.Between Geithner’s comments and concerns about the automakers, there’s plenty of ammo for the bears...
Read MoreStocks are sharply lower overnight. Treasury Sec’y Geithner warned that some US financial institutions will still need significant financial aid. The Obama administration rejected GM and Chrysler’s restructuring...
Read MoreThe US Dollar has been on a wild ride this month; staging a big selloff over concerns over various US policies and the relative states of the economies of the G8 countries. Basis the US Dollar Index, the Dollar’s trend has...
Read MorePresident Obama meets with bank CEOs this morning to work to keep them in the TARP plan and to solicit their opinions on how to restructure the financial system. Intel announced that they will issue up to $1 Bln. in new stock;...
Read MoreThe news overnight from Europe was poor-rising unemployment in France, falling retail sales in the UK, falling business confidence in Italy.In the US, Best Buy posted good results, and raised guidance for FY2010.This is in line...
Read MoreUS durable goods orders rose, as did new home sales. New home sales seem to show that the bottom may be in for housing, but they not going to race back higher. Following in the footsteps of the failed UK auction, the US 5 year T...
Read MoreThe UK had a failed auction today-they tried to auction £1.75 bln. Sterling of 40 year bonds and only got £1.63 bln. in bids. This is pressuring debt markets and the Pound this morning. The other overnight news was...
Read More
