(As of 8:34 am pacific)
It is a mild day on the markets. Ignoring Europe and focusing on potential
positive action by the G-7 nations, the market is rallying a small amount. Oil is up slightly as is gold. Interest rates are stable. The ISM services index was better than expected,
in expansion territory. This is
important because services represent 75% of US GDP. Spain indicates it is having problems finding
financing in world markets. I think that
the market is searching for any little bit of good news to stop this extreme downtrend
we have seen over the last few weeks.
