Bobbys Corner-Open Market-Nov.16.2009
Good Morning:
Continued demand for higher-yielding assets has pushed the USD and JPY lower overnight. The USD remains under pressure as the Fed reaffirms it’s plan to keep interest rates low to spur growth.
Worldwide equity markets rallied, fueled by comments from Asian leaders that they will continue to stimulate growth thru stimulus packages. US Futures are also pointing to a higher opening this morning.
Commodities rose, with Gold reaching a new record of $1133.20/oz and Oil traded up from Friday’s close in New York.
Today’s main attraction is Retail Sales data in the U.S. It is expected to rise from last months decline. It will be interesting to see if the U.S. consumer is opening up their wallets and spending.
Oil:$77.25 Gold:$1128.10
Today’s Data:
Retail sales: exp:.9% prior: -1.5%
Emp. Mfg: exp: 29.0 prior: 34.57
Bus Inv: exp:: -.6% prior: -1.5%
Have a GREAT DAY & GOOD LUCK
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