Bobbys Corner-Open Market-4.7.2009

Written April 7, 2009 at 8:25 AM EST by  

bob-slade-forex-2Good Morning:

Signs that the recession in Europe is worse than expected was confirmed with a report that GDP in the Eurozone dropped 1.6%.  Household spending, and investments also plunged during the period.  The crisis is forcing a reduction in output and jobs throughout the region.

World equity markets dropped and US futures are also pointing to a lower opening.  Comments by George Soros that the present market is a “bear market rally”, and investors should be prepared for a turnaround in the marketplace.  Alcoa will announce Q1 results after the bell today.  Alcoa will be the first Dow stock to announce earnings-and estimates are for a reported loss.

Oil:$50.25                                    Gold:$874.20

No major economic data due out today.

HAVE A GREAT DAY & GOOD LUCK

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