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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 Europe’s debt problems continue to draw investor’s 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 & Poor’s has once again cut Greece’s 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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