Midday Market Commentary For 06-05-2012
If you hear of someone complaining of a headache today it is because the hit their forehead on the desk falling asleep watching the markets. Brother, what a snoozer we have today, but I suggested this would be the case today and tomorrow as well.
Trading has been in a tight range since the 10 am financial report and has recently started to melt down slightly. Facebook has dropped to 26.40 with a continuing negative bias. Volume has dropped considerably to anemic status. WTI oil little changed at $83.99 a barrel. ICE Brent Crude falls 0.1% to $98.74 a barrel and gold hold steady at 1615 as the noontime ‘blues’ set in.
12:00 PM On the hour: Dow -0.2%. 10-yr +0.01%. Euro -0.49% vs. dollar. Crude -0.16% to $83.84. Gold +0.2% to $1617.05.
“European markets finished mixed as of the most recent closing prices. The CAC 40 gained 1.07%, while the FTSE 100 led the DAX lower. They fell 1.14% and 0.15% respectively.”
The USD is at 83.00 near its high of 83.03 for the day.
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Written by Gary