Bobby's Corner-Market Open 5.13.2008

Tuesday May 13, 2008

Good Morning:The dollar strengthened overnight as traders speculate that the Fed may signal that further interest rate reductions will pause due to rising inflation.

European Equity markets lost ground as financial companies continue to be concerned over inflation and speculation that central banks will pause from lowering interest rates.

China’s share prices fell after the worst earthquake in over 50 years hit the country yesterday.

US futures are also pointing to a lower opening.

Oil: $124.60

Gold: $880.90

 
Today we have data on: Import Prices:  Est.: 1.6%   Prior:  2.8%

Advanced Retail Sales: Est:-.2 Prior: .2%

Business Inventories:  Est.: .4%   Prior: .6%

 
Have a GREAT DAY and GOOD LUCK