Bobbys Corner-Open Market-4.7.2009
Good 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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