Wednesday, June 06, 2007

Pre Market

The markets in Asia are a mixed bag while Europe is a sea in red mostly likely in reaction to the ECB raising rates.

US worker productivity increased last month less than expected while labor costs rose 3 times more than expected suggesting inflation continues to be a problem.

Speaking of inflation, General Mills is raising the price of cereals due to higher commodity prices.
Panera Bread Co. cut its 2nd quarter earnings forecast and shares are plummeting nearly 10% in pre market trading.I had picked up PNRA for the fund in late Jan. in the low 50s and sold it as it quickly ran up into the 60s a month later.In the low 50s, I think this stock is a good buy.

Pre market futures show the US indices are expected to open sharply lower.Reduced productivity, increased inflation and rising bond yields are making for a jittery market.

1 comment:

Anonymous said...

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