Tuesday, April 03, 2007

Pre Market

The Asian markets were very strong overnight with solid green arrows all over. The momentum from Asia looks to have carried over to the European indices. I expect the bullish momentum to carry over to the US markets.

The pending home sales index will be the big piece of economic data released today.

Crude oil settles down as the dispute between Iran and the UK eases.

The US dollar has been gaining strength this morning while the Japanese Yen is pulling back.

Moodys is cutting credit ratings on up to 40-50 US and European banks. Banks are visibly upset.

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