The market opened today poised for gains and at mid day the major market
composites were trending in the green. Commodities are bouncing back after a
major sell out last week with gold, silver and oil boasting gains. Although the
market received a boost from rebounding commodities, new concerns over Europes
debt problems continue to draw investors attention. Greece has been in the news
recently as continuing debt woes have surfaced and the country has recently
received cuts in its credit rating. Rumors surfaced last week indicating Greece
may abandon the euro altogether or seek additional bailout funds. Today reports
indicate that Starndard & Poors has once again cut Greeces credit rating from
BB-/B to B/C with a negative outlook. The Federal Reserve is set to release its
quarterly survey on Household credit on Monday. With no other major reports due
out on the economic calendar for today investors will look for the March trade
balance due out on Wednesday, the April retail sales figures on Thursday and the
April consumer prices due out on Friday. Approaching close on Monday the major
market indexes are trending in the green. The Dow gained 53.43 points or 0.42%
to 12692.17. The Nasdaq increased 16.79 points or 0.59% to 2844. The S&P 500 was
up 6.65 points or 0.50% to 1347. The Treasuries 10-year yield declined by 0.01
to 3.14%. Oil was down 0.05 to $102.51. Gold surged 9.00 to $1512.20. Author:
Pamela Frost
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