Sunday, June 29, 2008

Asian markets up a little

Following the big sell-off in stocks last Thurs & Fri, Asian markets are beginning June 30 generally up a little. They've all had a rough 6 months, like in the US. Shanghai at 2750 is down almost 50%, Hong Kong is down 20% & Tokyo is down 15%.

Oil has been trading up 1½ (at 141½) from the Fri close in NY. Major worries for oil traders revolve around possible conflicts between Israel & Iran. These markets along with European trading will influence the start of trading in NY. Mon is also end of month/qtr here, always worth a little extra in unexplained volatility. Later in the week, the European Central Bank is expected to raise their rate, a rare occurrence, to help fight inflation which should raise the price for the Euro above 1.58.

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