Bobby's Corner-Market Open 5.19.2008

Monday May 19, 2008

Good Morning:

The greenback continued to trade within familiar levels, as the markets await various economic data this week. All eyes will be on this Fridays Existing Home Sales data, to get a gauge as to the state of the US housing market. Also this week will be data on PPI and jobless claims. On Wed the FOMC will release the minutes from the April 30 meeting.

Asian and European equity markets advanced on speculation that corporate takeover activity will increase. This is especially true when foreign companies look at US properties. With the dollar at all time lows, the cost of takeovers from foreign entities becomes even more appealing.

US futures are pointing towards a higher opening.

Oil: $127.60

Gold: $913.00

Today we have data on Leading Indicators at 10 AM.

Expected to be unchanged Prior: +.1

HAVE A GREAT DAY and GOOD LUCK