Friday, October 9, 2009

Markets today

S&P 500 futures vs fair value: -.70 at 1064.76. Stocks are off to a slow start after the International Trade data number was released. The deficit shrank again suggesting the economic recovery is still choppy. The August U.S. trade gap is now at $30.7 billion, from $31.9 billion in July.

European bourses are trading with a mixed fashion, Germany's DAX surrenders its early gains and now trading in red territory, down 15.46 at 5701.08. France's CAC 40 and Great Britain's FTSE is also trading with moderate losses, down 15.38 at 3791.43 and 10.69 at 5143.95 respectively.

Stocks are now off to a very slow start. S&P is trading less than a dime at 1065.20. The volume at the stock exchange is unusually low today.

After Mr. Bernanke's comments, U.S. dollar came back from its year lows, pulling the gold prices down. Gold is trading with some losses after a 4.86% 5 day rally, now down 0.56% at 1048.07 an ounce. U.S dollar Index is at 76.25.

Next week is going to be big week at the stock exchange. We have Retail Sales on Wednesday, then CPI the following and Industrial Production on Friday. Also, once again we are right around the corner from the earnings season. Tuesday: Johnson and Johnson (JNJ) and Intel (INTC. Wednesday: Abott (ABT) and JP Morgan (JPM). Thursday: I.B.M (IBM) Google(GOOG) and Goldman Sachs(GS. Friday:General Electric (GE), Banc of America (BAC)and Citigroup(C).