Bobby's Corner-Market Open 5.9.2008

Friday May 9, 2008

Good Morning:

Last night’s jump in oil prices and continued concerns over the equity markets contributed to the dollar’s weakness overnight.

Oil rose over $125/barrel as attacks against Nigeria’s oil supply continue, and speculation that this may lead to lower exports by Nigeria-thus curbing US supplies as the summer driving season starts Memorial Day Weekend.

World Equity markets are ending the week on a lower note.

US futures are lower this morning.

Oil: $125.12

Gold: $887.00

Today we have data on Trade Balance.

Expected -$61.1 Bil

Prior: -$62.3 Bil

 
Have a GREAT WEEKEND and GOOD LUCK