Bobby's Corner Market Open 5.21.2008

Wed May 21, 2008
Good Morning: 

Oil surged today, trading over $130 for the first time ever.  Futures prices are pointing to a continued upward trend in the price of crude.

Today’s IFO report on German Business Confidence unexpectedly rose giving the Euro a boost against other major currencies.   

World Equity markets were mostly lower on speculation that surging oil prices will hurt profits for the transportation sector.

Oil: $ 130.09

Gold: $ 925.80

Today we have the minutes from the April 30 FOMC meeting released at 2PM.

Have a GREAT DAY and GOOD LUCK.