Morning Coffee Break – Friday March 22 U.S. equity markets are pointing to higher open on the first day of the week of a short week. All three U.S. indexes are in the green on a Cyprus last minute bailout plan that was approved by European Union Finance Ministers.
Gold continued to ease higher once again yesterday, with May gold futures on Globex closing at $1613.80 per ounce, up just over $8 per ounce in the session and ending with a narrow spread up candle, supported by average daily volume.
Morning Coffee Break – Friday March 22 As we get ready to start the final session of the week traders will be without a doubt will be focused on the developments in Cyprus. Or should I say lack of development as Cyprus leaders’ hopes for a Russia bailout loan has fallen part and are going into the weekend with no deal and the European Central Bank deadline set for Monday
Morning Coffee Break – Thursday March 21 With no significant impact from the Federal Reserve’s two day meeting and statement the S&P 500 is coming off its largest gain in over two weeks. The crisis over in Cyprus hasn’t even deterred the U.S. equities from moving higher.
Doctor copper is anything but on the daily chart, as the May futures contract traded lower once again today, following yesterday’s sharp sell off, which saw the metal end the commodities trading session with a wide-spread down candle, finally propelling copper below the recent sideways price congestion which has been in place since early March.
Chesapeake Energy Corporation (CHK, quote) announced today it plans to offer $2.3 billion of senior notes in order to help fund a tender offer worth about $938 million in outstanding senior notes.
Gold bugs finally had something to cheer about today as April gold futures finally awoke from their recent slumbers, trading higher in today’s session, and moving to test the $1600 per ounce price level. The catalyst for this modest recovery for gold was from the ECB, with suggestions that inflationary pressure was easing in the Eurozone, but hardly sufficient to spark a reversal in the longer term trend!
Most U.S. stocks finished higher yesterday, Wednesday, March 13, 2013, extending anew the rally triggered by Fed Chairman Ben Bernanke‟s decidedly “dovish” testimony before the Senate Banking Committee on Tuesday morning, February 26, 2013
Political uncertainty in Italy could impact global markets, but provide a “fantastic buying opportunity.” Like Jennifer Lawrence’s fall at the Oscars, unexpected but a chance to shine ‘comedically‘, Italy’s elections have shocked investors but provided attractive entry points to strong international firms, insulated from domestic woes (as well as offer up some funny one-liners from candidates).
Gold bugs finally had something to cheer about today as April gold futures finally awoke from their recent slumbers, trading higher in today’s session, and moving to test the $1600 per ounce price level
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