Bobby's Corner-Market Open 5.6.2008

Tuesday May 6, 2008

Good Morning:

The dollar took a dive across the board as Fannie Mae reported a $2.19Bil loss for the 1^st Qtr.  The loss was larger than expected.  Fannie Mae is expected to cut its dividend and raise $6Bil of outside capital.

Stocks in Asia and Europe fell on poor results from UBS and Swiss Re.

US Futures are also lower this morning.

Oil: $ 119.64

Gold: $ 877.40

No Major Economic Data due today.

Have a GREAT DAY and GOOD LUCK