Bobby's Corner-Market Open 5.8.2008

Thursday May 8, 2008

Good Morning:

Both the ECB (European Central Bank) and BOE (Bank of England) left their benchmark interest rates unchanged this morning.

The Euro lost ground as speculation mounts that the ECB may need to lower interest rates in the near future to combat a slowing economy. The markets will be waiting for the statement from the ECB regarding future interest rate movements.

The GBP was a touch stronger as the BOE left interest rates unchanged as they monitor the impact of past interest rate cuts.

World equity markets were mixed-US futures are pointing to a higher opening.

Oil: $123.20               

Gold: $873.20 

Today’s Economic Data:

Jobless Claims: Expected: 370K Prior: 380K

Wholesale Inventories at 10AM- Expected: .5% Prior: 1.1%

Have a GREAT DAY and GOOD LUCK