Stock futures were positioned lower this morning and it appeared that Wall
Street would ring the opening bell in the red. The primary indices dropped off
significantly last Friday as many feared the ongoing and growing debt crisis in
Greece. This negative sentiment carried through the weekend and weighed heavily
on the indices this morning. The global market place was covered in a hue of red
this day as the weight of the eurozone sovereign debt issues are widespread. As
the trading session reached the halfway mark, the primary indices in the U.S.
were still red. The Nasdaq was lower by .14 percent at 2,464. The S&P 500 was
red by .72 percent at 1,145 and the Dow Jones Industrial Average was red by .82
percent at 10,902. BAC data posted earlier and it was negative, as expected.
Bank of America plans on saving approximately 5 billion dollars, but at the
expense of cutting 30,000 jobs. Chief Executive, Brian Moynihan announced these
plans today. This bad news was paired with the ongoing news of the economic
deterioration in the Eurozone marketplace. In addition to these negatively
skewed posts, President Obama spoke in the Rose Garden this morning and
attempted to focus everyone on something more positive, job creation. He will
push his plan on to Congress. Gold and silver remained lower at mid-day and the
dollar was slightly higher versus the euro and British pound. Frank Matto
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