Bobbys Corner-Open Market-March.8.2010
Good Morning:
Speculation that the wealthier European nations would rescue Greece, which would reduce the risk of debt default throughout Europe (especially the southern Europe) , helped boost the Euro in overnight trading. The Euro was also helped by French President Sarkozy-as he said that the regions nations are “ready” to help Greece.
There are 2 different trains of thought regarding the Greek debt problem. The first is that the markets are comfortable with the Greek problem-and that Greece’s problems will not spill over to other countries like Spain or Portugal. The other thought is that the Greek debt crisis risks the future of the Euro.
On another note-Dubai World is asking creditors to wait again for payment. Bankers familiar with the Dubai talks say that investors may be repaid in full, and receive a government guarantee if they are will ing to wait for thier money
World equity markets are higher, and US Futures are higher this morning also.
Commodities are also higher.
Oil:$81.89 Gold:$1135.80
No Major Data today.
HAVE A GREAT DAY & GOOD LUCK




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