After getting clobbered on Thursday,
markets look to be shrugging off the Moody’s downgrade of major U.S.
banks Thursday night. The ratings agency downgraded 15 banks including
Goldman Sachs, Bank of America and JP Morgan to name a few.
Of the many concerns cited for the downgrades the biggest continues to
be ongoing fears surrounding the European Debt Crisis. An audit released
yesterday pegged Spain’s bailout needs at €62 billion and while that is
lower than the €100 billion that was originally
predicted it’s still a significant amount…and audits aren’t always
right. Not to mention bond yields in the country continue to hover at
unsustainable highs. Also weighing on the concerns surrounding Europe is
a report that Germany’s IFO business climate
index has fallen to its lowest level in recent memory (105.3). The
report comes just a day after Germany’s PMI was shown to have hit a
three-year low. There are no significant economic reports on tap for
today as investors assess the damage from yesterday’s
carnage. Have a great day and an even better weekend!
|
Metals
|
Last
|
%Change
|
Low
|
High
|
|
Au-Aug
|
1568
|
0.16%
|
1560.2
|
1573.2
|
|
Pt-Jul
|
1437
|
-0.16%
|
1421.1
|
1441.6
|
|
Pd-Sep
|
608.55
|
0.00%
|
605.60
|
612.55
|
|
Ag-Jul
|
26.780
|
-0.22%
|
26.565
|
26.995
|
|
London
|
AM
|
PM
|
Minor
|
PGMs
|
|
Au
|
1570.5
|
|
Rh
|
1250
|
|
Pt
|
1434
|
1435
|
Ru
|
115
|
|
Pd
|
610
|
608
|
Ir
|
1100
|
|
Ag
|
26.81
|
DJI
|
12573.57
|
-250.82
|
|
Currencies
|
|
|
|
|
|
|
USD
|
EUR
|
JPY
|
GBP
|
|
USD
|
0
|
1.2573
|
0.012445
|
1.5597
|
|
EUR
|
0.7954
|
0
|
0.99
|
1.2406
|
|
JPY
|
80.35
|
101.02
|
0
|
125.328
|
|
GBP
|
0.6412
|
0.80607
|
0.7979
|
0
|
|
|
|
|
|
|
|
Crude Brent
|
90.33
|
Comex Copper
|
330
|
|
|
Crude WTI
|
78.85
|
Nat Gas
|
2.599
|
|
|
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
|
|
|||
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