Thursday May 1, 2008

Good Morning:

The greenback advanced after the Fed lowered the benchmark interest rate to 2%.

Speculation the Fed will pause lowering interest rates helped the dollar to rise.

Today’s market activity overseas was very thin as many European and Asian markets are off for the May Day holiday.

Most world equity markets were closed today for the May Day holiday.

UK markets and US futures are higher this morning.

Oil: $113.18

Gold: $865.90

Today Economic Data:

Personal Income:  Expected: .4%   Prior: .5%

Jobless Claims: Exp: 365K   Prior: 342K

ISM Manufacturing:  Expected: 48   Prior: 48.6

Construction Spending:  Expected: -.7%   Prior:  -.3%

Have a GREAT DAY and GOOD LUCK