Patriot Problems Pressure Coal ETF

Things are really going to worse from bad for the Market Vectors Coal ETF (KOL [stock KOL]), the dominant exchange-traded product devoted to coal stocks, this year. Shares of Patriot Coal (PCX [stock PCX] are off more than 54% today on chatter the company may have to seek bankruptcy protection and there’s speculation Patriot has met with restructuring advisers, perhaps a sign the company won’t be able to meet its

After Market Close

The market saw up and down swings.  Financials lead the way in early trade through the afternoon.  Market took a turn when news reports quoted former Greece Prime Minister Lucas Papademos as saying that preparations for the country’s exit from the euro zone are being considered, sending the euro and markets lower.

NZ Dollar Gains on China Growth Prospects, G8 Summit Keeps Euro Low

The US Dollar (ticker: USDOLLAR) traded lower against the Australian Dollar and other high-risk counterparts on a modest improvement in financial market sentiment, but overall momentum left it poised for modest gains against the Euro and British Pound. It was a quiet start to the trading week as highly-anticipated events over the weekend failed to produce material breakthroughs or shifts in financial market sentiment.