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PreMarket Stock Market Report
2008-05-15 15:26:00
We are committed to bringing you premarket news. Please find all the early economic news and corporate events that broke this morning, either within this article or within our sidebar section "Market Moving News" at the Wall Street Greek website.Before we begin, we want to note that we are omitting discussion of the very important Monthly Oil Market Report released by OPEC this morning, because a second article will detail the petroleum market today, and recent events within it. It's going to be an otherwise busy day, so you'll find plenty of information to keep you occupied here in the meantime.Weekly Initial Jobless Claims New unemployment benefits filers numbered 371K for the week ended May 10, 2008. Reported this morning at 8:30 a.m., the measure was forecast just 1,000 below the actual figure, which exceeded last week's measure of 365K. So, "playing it safe," so to speak, worked for economic forecasters this week. We outlined in our weekly market planner that economists seem...
More About: Stock Market , Stock

Money Minute Market Wrap
2008-05-15 04:56:00
Enjoy the daily video market wrap up below.Views expressed within the video may not agree with the opinion of "The Greek." Article interests AMEX: DIA, AMEX: SDS, AMEX: QLD, AMEX: SPY, AMEX: DOG, Nasdaq: QQQQ.
More About: Money , Market , Minute , Wrap

Economic Data Analysis - Chew on This!
2008-05-14 19:50:00
Glue in your dentures tightly, because there's a plateful of economic analysis to chew on today. Between today and yesterday, we absorbed the newest inflation measure, two retail reports, a spot of housing news mixed with mortgage and foreclosure data, an updated energy outlook and weekly inventory, business inventories and import and export prices. Chew on that morsel before you choke on it! We are not schooled in the Heimlich Maneuver here at "The Greek." This article focuses on the big inflation report.Consumer Price Index (CPI)The market is rising today on what, on the surface of things, looks like a positive development for inflation. However, the published headline numbers alone do not tell the whole story. Simply looking at the result, would be like passing a great impressionist's painting from three feet away. You really need to back up, take a close look, blink and look again, to understand and make good use of the data. So, let us do that for you.The headline CPI increas...
More About: Analysis , Data , Economic

Stock Market Recap: No Chance in Iran... I Mean Hell
2008-05-14 06:45:00
Stocks sagged, but the tech-heavy Nasdaq benefited from company specific news. Yahoo! (Nasdaq: YHOO) may find pressure to accept Microsoft's acquisition bid from none other than Carl Icahn. This is just what Microsoft (Nasdaq: MSFT) and yours truly expected when the software giant recognized Yahoo!'s stall tactics, and backed away from its offer. Another deal was in the news again today as well. Hewlett-Packard's (NYSE: HPQ) acquisition of EDS (NYSE: EDS) has been judged too rich by the market, and HPQ is off 10% in two days as it suffers the penalty.Congress voted against the president, and against America's best interest in my book, by passing legislation to stop the president's filling of the strategic oil reserve until oil prices fall to a threshold level. This bill has no chance in Iran , I mean hell, of passing through the Oval Office, so why even bother...If you do not see the video above this text, we encourage you to visit the website via the text link below. As always,...
More About: Stock Market , Market , Chance , Stock

Retail Sales Sag, but God Bless Ex-Auto
2008-05-13 19:45:00
Today's highly anticipated retail sales report offered quite a mix of color. Sales fell 0.2%, as you might have expected, but excluding autos, sales actually rose 0.5%. April Retail SalesWe've been dreaming about this report over the past two weeks, which probably says something about the quality of life over here at Greek HQ. The report itself offered no letdown from the hype, as it portrayed a bifurcated world. As expected, given recent news from General Motors (NYSE: GM) regarding its plans to cut production further to better match soft market demand, auto sales weighed on the retail figure.The graphs to the right depict the horror of the automobile industry in a fashion that Terror Film Festival founder "Claw" might enjoy best. That bar shaded in light gray to the right offers the pain of the auto industry via embarrassing public display.But wait a second, the auto industry is suppose to be on the road to recovery is it not? Ford (NYSE: F) just got a great vote of support in B...
More About: Auto , God Bless

Stock Market Review: Technology Stocks in the News
2008-05-13 17:58:00
Be sure to see this week's edition of "The Greek's Week Ahead" directly below this article, or through the text link offered here.Monday's news flow was somewhat light on the schedule, but offered unscheduled surprise. Please find all of Monday's highlights within the video below. Summarizing, Hewlett-Packard (NYSE: HPQ) will acquire EDS (NYSE: EDS), and Wal-Mart (NYSE: WMT) posted strong results, while warning on its outlook. Research in Motion (Nasdaq: RIMM) offered a new and improved smart phone, and the market recovered much of Friday's losses. Oil fell $2 as geopolitical tensions aged, and the dollar strengthened.Please find our disclosure at the Wall Street Greek website. Article interests AMEX: DIA, AMEX: SPY, AMEX: QLD, AMEX: SDS, AMEX: DOG, Nasdaq: QQQQ.
More About: News , Technology , Stocks , Stock Market , Market

The Greek's Week Ahead - Theme Week
2008-05-12 22:43:00
Our Wall Street week ahead article has been engineered to serve as a reference you can look back upon all week long to keep ahead of the economic and corporate news flow.After last week's geopolitical news flow domination, this week offers several individual themes for each specific day. The President's week, however, will be geared toward preparing the Middle East for the near-term therapy he likely has in mind for Iran. He'll be sure to mix that into the conversation with his Israeli counterpart in between the fireworks and the champagne, as Israel celebrates its 60 year anniversary. Five decades have passed, and not a peaceful day among them it seems.A Choice This Time. But Which One is Really Correct?Between John McCain and apparently Barak Obama, it looks like Americans might have a distinct choice to make about Middle Eastern policy. But, is there really a choice, because we suspect the scenario playing itself out will not allow much free play between potential presidential...
More About: Week , Theme , Ahead

Week in Video Review: May 5 - 11
2008-05-11 21:31:00
It was quite a week, including two holidays, MBCW and Mother's Day. The week in video is not short on interesting events either, with a new president taking position in Moscow, the ECB and IMF renewing the fear of inflation, and intensifying geopolitical tensions that took oil prices $10 higher. If you cannot see the video where you are, please visit the Wall Street Greek website.As always, the views expressed within the videos may not agree with the opinion of "The Greek."Please see our disclosure at the Wall Street Greek website. Article interests (AMEX: SPY, AMEX: DIA, AMEX: SDS, AMEX: QLD, AMEX: DOG, Nasdaq: QQQQ, NYSE: XOM, NYSE: GE, NYSE: AIG, NYSE: GS).
More About: Video , Review , Week

Geopolitical Factors Drive Markets - Iran Event Nears
2008-05-10 23:00:00
Geopolitical issues dominated the news flow last week, driving the stock market down approximately 2% and oil prices up roughly $10. First, Let's Note the Inflation FactorLike the Beastie Boys use to say, "It's the new style," new style concern that is, as inflation takes the baton from recession. The European Central Bank (ECB), Bank of England (BOE) and International Monetary Fund (IMF) all pounded that fear down the market’s throat this past week again. That led to an early end to the nascent dollar rally, as The Greek forecast it would just one week earlier. The dollar actually closed the week (EURUSD: 1.55) about where it started it, but ended the period losing some of its earlier gains.The Geopolitical FactorAmong the catalysts behind the move in the markets, one that certainly had something to do with the double-digit rise in oil prices and decline in stocks, was intensified geopolitical tensions. Stocks sold off on the week, with the Dow Jones Industrials declining 2.4%...
More About: Event , Iran , Markets , Drive

Food Inflation, Ethanol Stocks and the Future
2008-05-09 20:56:00
Nearly a year ago we authored an article discussing the secular change in food and energy prices and their likely impact on inflation across the board. We suggested headline CPI was more realistic than the Federal Reserve even understood. We insisted that food and energy price rise would lead to embedded inflation, and rise in the Core CPI. There were two interesting articles published over the past couple days that add chapters to the inflation saga that is still in the midst of development. The IMF warned yesterday that global inflation was in fact a problem. An organization loaded with representatives who make a lot more money than me, the IMF, brilliantly reported that inflation had reemerged and that the drivers appeared to be "fundamental" in nature. Sound familiar? Yeah, you read that at The Greek last summer, when we said the drivers of food price rise were not seasonal, but secular in nature (a.k.a. IMF's fundamental), and should not be discounted as temporary noise that w...
More About: Food , Stocks , Ethanol , Future , Inflation

Daily Market Wrap - Virtual Pizza
2008-05-09 06:50:00
Please find Thursday's stock market wrap up below. The video, provided by the Associated Press, misses what we viewed as the most important news driver of the day, the ECB decision. Be sure to see our article on the event here.The opinions expressed within the videos may not agree with the view of "The Greek." Please see our disclaimer at the Wall Street Greek website. Article interests (Nasdaq: PZZA, AMEX: DIA, AMEX: SPY, AMEX: QLD, AMEX: DOG, Nasdaq: QQQQ).
More About: Daily , Market , Pizza , Virtual , Wrap

ECB Rate Decision and Dollar/Euro Repercussions
2008-05-08 18:00:00
Today's decisions of the Euro pean Central Bank (ECB) and the Bank of England both followed plan, with no interest rate action across the board. ECB Rate Decision and DiscussionThe ECB decided to keep euro- zone area key interest rates steady, while highlighting its interest in keeping high inflation from embedding itself into the system. European bankers continue to forecast economic growth through 2008, albeit moderating. So, with inflation above 3.0% (3.3% in April), the group remains highly unlikely to cut interest rates, judging by today's statements.Raising rates now would also be difficult, first and foremost, because of recent European economic softness. There's another reason the man on the street is more familiar with, and that's the sudden euro strength that is driving significant European instability due to inefficiencies in adjustment. The availability of cheaper U.S. goods through fluid distribution channels is causing difficulty to European producers. At the same t...
More About: Dollar

Daily Stock Market News Video Review
2008-05-07 06:51:00
See your daily stock market news video review below.Please find our disclosure at the Wall Street Greek website. (For AMEX: DIA, AMEX: SPY, Nasdaq: QQQQ)
More About: Video , News , Daily , Stock Market , Market

Resurrecting Retail Stocks
2008-05-06 18:40:00
In case you missed it, the retail industry has been undergoing resurrection since March, and with tax rebate checks on the way, we might be ready to film the first episode of "Shoppers Gone Wild." Anyway, we think retail stocks might get a boost in the near-term. Even so, recently positive data may be more weather related than due to the anticipation of receipt of government stimulus. Note, we also recommend using any broad sector rise as opportunity to sell the weakest names in the group when momentum teeters.International Council of Shopping Centers - Weekly Same-Store Sales DataAnticipation of tax rebate checks looks to have possibly given life to the retail sector. Over the past couple weeks, we've seen the ICSC-UBS Weekly Same-Store Sales data emerge from the murky depths it had only just plunged into. Indeed, the report had only recently dipped into contraction territory when April 15 came to pass, but since then, growth has resurfaced and in force. Today's same-store sales ...
More About: Stocks , Retail

News Wrap - Iran and Yahoo Feel the Heat
2008-05-06 07:35:00
Well, oil started the week moving in the wrong direction, according to "The Greek's" view anyway, as expressed in "The Greek's Week Ahead - Linens 'n Nothing." Actually, we warned that the ECB is more likely to raise rates then to cut, and that a move like that would kill the recent dollar rally. That little piece we authored got a lot of coverage this weekend, so maybe blame me folks... Hey, we warned about Iran again too you know, but we didn't think anybody was reading. Apparently, the Supreme Leader of Iran spends some time at The Greek though. A U.S. General might have been reading also, since he said that it would be difficult for America to engage Iran now, due to hostilities in Iraq and Afghanistan. There are more smoke and mirrors at play here than in the House of Horrors at your local carnival.Remember, it's not the U.S. who is going to engage Iran (according to us), initially anyway, it's Israel. The good old U.S. of A. is just going to be sticking around the Persia...
More About: News , Yahoo , Heat , Feel

The Greek's Week Ahead - Linens and Nothing
2008-05-05 17:40:00
This week's Chain Store sales report looks to confirm the anecdotal evidence seen at Home Depot, Linen 'n Things, Talbots and others. Also, this week's decision by the ECB might offer insight into the durability of any dollar rally.Chain store sales should offer no surprise when they disappoint later this week, in our estimation. Linen 'n Things went bankrupt last week, and Home Depot announced the closing of some stores, offering more anecdotal evidence into the trouble ahead for retail. Some would argue that the tax rebate will help, and we agree, but we see only a one quarter benefit. The trouble is longer-term than that, especially if energy and food costs remain so troublesome for Americans, and credit so tight.The Greek has singled out this week's ECB announcement and press conference as the most important event of the week. What the ECB does and says this week has the potential to move the dollar, commodities and stocks. Eurozone regulators are inflation manic at the mom...
More About: Week , Linens , Ahead

Week in Video Review - Markos Birthday Celebration Week Begins
2008-05-03 20:10:00
Wall Street Greek celebrates its founder's birthday, and the beginning of "Markos Birthday Celebration Week " (MBCW). MBCW is a seven-day period within which all of Markos' friends treat him to meals, drinks and plain old good times (you're hereby notified - appointments available at wallstreetgreek @ gmail.com). While MBCW is not widely celebrated across the nation (yet), it is a notorious event within a group of friends Markos places into awkward position each year due to his unwarranted and perhaps unwelcome expectations for "freebies" (I like steak). We note, this past week was also a period inclusive of May Day and World Press Freedom Day. Please enjoy the videos, and if you cannot see them where you are, visit the Wall Street Greek website.The opinions expressed within the videos may not agree with the view of "The Greek." Please help Wall Street Greek to feed the hungry, as we walk in Sunday's Crop Hunger Walk. Please click through to the charity's own secure donation pag...
More About: Video , Review

DCF Valuation Improves Naive Value and Growth Investment Strategies
2008-05-02 20:00:00
By Tim PoulusThere are a number of investment strategies out there, but do they make any sense? I think there is a pretty clear answer to that question, but you may not like it.Let's look at value and growth strategies in particular. Investopedia defines value investing as "The strategy of selecting stocks that trade for less than their intrinsic values." Growth investing is defined as "A strategy whereby an investor seeks out stocks with what they deem good growth potential. In most cases, a growth stock is defined as a company whose earnings are expected to grow at an above-average rate compared to its industry or the overall market." Generally, going by these investment strategies implies doing some form of quantitative analysis. A number or ratio, such as P/E, is calculated and then is statistically checked for any correlation with stock (out)performance.From a DCF point of view (calculating the value of a stock by adding the present values of all future cash flows) this obviou...
More About: Investment , Strategies , Naive , Valuation

The First Bank of Snook, No Joke
2008-05-02 17:59:00
It's no joke, The First Bank of Snook really exists and really entered into agreement with the Federal Reserve today. However, we would be completely remiss NOT to make some kind of fun of this... Before you read the article folks, we would like to ask your help in feeding the world's hungry. Markos will be walking in the Crop Walk on THIS Sunday and is seeking sponsor contributions to help feed the most poverty stricken of the world. Please follow this link to the secure donation page.Okay, so the big joke is clearly on humanity this year. It looks like God pulled the biggest April Fool's joke in history by moving April Fool's Day to May. The Federal Reserve executed an agreement with the First Bank of Snook!?! Come on, are you kidding me? And GDP grew?!? And the unemployment rate fell?!? That's enough big guy in the sky, you've taken this joke way too far. The Employment SituationThe economy lost 20,000 jobs in April, far less than the 75,000 economists were looking for, acc...
More About: Joke

American Tourism, Employment Benefits from Weak Dollar
2008-05-01 18:59:00
Foreign tourism boosts employment in the accommodation and leisure sector, thanks to a weak dollar. And don't miss our juicy Iran commentary either.Employment Data Unfolds Weekly Initial Jobless Claims came in higher than expected at 380K, but right around the recent range. The four-week moving average stands at 363,750, but the 35,000 claims increase this week over last was not enough to offset the even higher figures of the two weeks before. Are things improving?... not likely.Home Depot (NYSE: HD) today announced it would close 15 stores and the Challenger Job-Cut Report posted a 19-month high. The report of planned layoffs reached 90,015 in April, up 68% from March. Things are getting worse folks, so buckle down. The insured unemployment rate increased to 2.3%, from 2.2% the week before. Tomorrow, the Labor Department will offer the overall unemployment rate, and Bloomberg's consensus of economists anticipates the rate will increase to 5.2%, from 5.1% last month.Some contrasti...
More About: Tourism , Dollar , American , Benefits

Uncle Ben's Rice
2008-04-30 17:15:00
By Steven C. FergusonCooking Instructions:Bring inflationary waters to a scalding boilStir in Uncle Ben’s white rice and, if desired, oilCover all investment bank losses, reduce rates 25 more bps and let simmer six monthsRemove temporarily from heat while rice deflatesRice InstabilityPoor Uncle Ben. He cannot seem to find that winning recipe. As the unfortunate host of bearishly ravenous dinner guests, he just had to avoid a financial faux pas… not to mention scathing reviews from stern critics… with a hastily-prepared meal just before last month’s FOMC. But as master economic chef, he must be ashamed, having completely spoiled his secret sauce and Fed family formula for inflation targeting and price stability in the process.Now it seems painfully evident that no matter what ingredient he substitutes from the CPI basket of goods, he just cannot keep the inflationary pot from boiling over. And with the latest consumer confidence readings, we can definitely see that expectatio...

GDP Report Misleads on Inventory Build
2008-04-30 16:55:00
The market was closely attuned and received "good news" this morning, supposedly. Q1 GDP was reported 0.6% higher, but the numbers deceive. First Quarter GDPThis morning's advanced reporting of GDP showed surprising growth, despite economists' projections for the same. The market, after all, was expecting recession no? Economists were actually projecting 0.3% growth, or better than recessionary data anyway. We got an even better showing, as Q1 GDP was reported 0.6% higher, matching the rate of growth seen in the fourth quarter of '07. So what gives?One important driver of GDP stood out like a sore thumb as a false prophet, albeit an expected one. Inventories increased at a $1.8 billion annual rate, adding 0.81% point to GDP. The thesis here is that inventories rose because sales slowed, and despite just-in-time pervasion, this appears to be the case. Some analysts found optimism in the narrowing of the trade deficit, but we argue that this has as much to do with the decline of Am...
More About: Report , Inventory , Build

Stock Market News
2008-04-30 06:29:00
A video review of the day's stock market news.The opinions expressed within the videos may not agree with the view of The Greek.Please see our disclosure at the Wall Street Greek website. For readers of (AMEX: DIA, AMEX: SPY, Nasdaq: QQQQ, AMEX: QLD, AMEX: SDS, AMEX: DOG)
More About: News , Stock Market , Market , Stock

Wall Street Week Ahead - Best Resiliency Test Yet
2008-04-29 23:45:00
Our regularly published Wall Street week ahead article has been engineered to prepare you for the period's scheduled market-moving events.With GDP and the Employment Situation Report on tap, the market will face the toughest test of its resiliency yet starting on Wednesday. The vessel that is the stock market has thus far sailed through some harsh weather, albeit after taking on a flood of water initially as the iceberg of economic reality brushed her port side. This week's first quarter GDP report offers possible confirmation of economic contraction. Economists, while mostly saying one thing in the public forum, quietly hold a consensus expectation for growth in Q1.Is this a pipedream or hot air meant to keep client funds in managed portfolios... we estimate the latter. Despite the published expectation, the market probably anticipates contraction in Q1, so bad news might not shake the ship. The degree of bad news though, could certainly take the titanic under for a moment or two...
More About: Week , Test

Week in Video Review: April 21 - 27
2008-04-28 16:45:00
Enjoy your week in video review below. We've also included some week old but very interesting information about Iran and Israel that you may have missed.As always, the opinions expressed within the videos may not agree with the view of Wall Street Greek. For readers of (AMEX: DIA, AMEX: SPY, Nasdaq: QQQQ, AMEX: QLD, AMEX: DOG, AMEX: SDS).
More About: Video , April , Review , Week

Morning Report: More Financial Sector Mayhem
2007-11-05 15:10:00
(Stocks in this article: NYSE: C, NYSE: MER, NYSE: PTR, NYSE: F, NYSE: GS, NYSE: KFT, NYSE: CM, NYSE: OPY, NYSE: ETR, NYSE: ECA, NYSE: LLY, NYSE: BSC, NYSE: WB, NYSE: MS, NYSE: BAC, Nasdaq: GOOG, Nasdaq: CSCO, NYSE: SDS)Futures indicate a lower open, after Asia and Europe moved broadly lower this morning. Financial sector mayhem looks to have no die in it, as Citigroup's (NYSE: C) Board held an emergency meeting that resulted in the resignation of its CEO, Chuck Prince, and speculation of a fourth quarter charge that could surpass Citi's third quarter mess. Don't miss "The Greek's Week Ahead - The Prince is Dead! Long Live the King!"Robert Rubin steps in as Chairman, in an effort to stabilize C shares, while Citi's European Chief Sir Win Bischoff takes the helm as interim CEO. Rumors abound that interested owners like Saudi Arabia's Prince Alaweed Bin Talel al-Saud are aggressively pushing for the return of Sandy Weil. What matters to you today is that there looks to be no res...
More About: Report , Morning , Mayhem

The Greek's Week Ahead - The Prince is Dead! Long Live the King!
2007-11-05 06:20:00
The Greek's Week Ahead has been engineered to prepare you for the events that could impact your portfolio this week.There's no rest for the weary. Start your engines folks, here we go again. This week portends to be just as volatile as the week just passed. Citigroup (NYSE: C) kept busy over the weekend, conveying a special meeting of its board within which CEO Chuck Prince offered his resignation. Citigroup directors could be heard chanting, "The Prince is dead! Long live the King!" What's worse is that more bad news is anticipated out of Citi on Monday or later in the week, as it is expected to announce a larger charge than its recently surpassed record setting figure (surpassed only by Merrill Lynch (NYSE: MER)). Citi moved Rubin into the Chairman's seat, while Sir Win Bischoff (Head of Citi Europe) takes over as interim CEO. Citi's accountants were reportedly working overtime this weekend figuring out exactly how much asset to chop. What all this means to you is that you ca...
More About: The King , Live , Dead

War-Play War Plays
2007-11-02 18:45:00
(Stocks in this article: NYSE: PCP, NYSE: ATK, NYSE: LMT, NYSE: COL, Nasdaq: AVAV, Nasdaq: ATRO, NYSE: HON, Nasdaq: CRDN, NYSE: BA, NYSE: CGT)If, as it appears, we are going to war with Iran, then it is certainly wise to consider a few war-play war plays. The most logical place to look, and the stone we are going to turn in the paragraphs that follow, is the Aerospace and Defense Industry.The rhetoric is as intense as ever between the United States, Iran and ancillary parties like Russia and Israel. The Administration’s latest round of sanctions announced last Thursday and Vice President Cheney’s recent statements pounded home what we view as the obvious. America, Israel and most European nations view it as incomprehensible for Iran to possess nuclear weaponry or the skill to build such weaponry. Meanwhile, Iran whistles and works its way to Armageddon.Logically, the most direct beneficiary of war would seem to be the aerospace and defense sector. Oh sure, if we go to war with I...
More About: Play , Plays

Morning Report: Job Rocket
2007-11-02 13:53:00
(Stocks in this article: NYSE: BCS, NYSE: GM, NYSE: F, NYSE: NYX, NYSE: BA, NYSE: VIA, NYSE: CI, NYSE: DUK, NYSE: MAN, NYSE: PTR, NYSE: ABX)The bullish October Employment Situation Report will drive shares higher today, at least to start. The reported increase of 166,000 jobs, doubled Bloomberg's economists' consensus forecast for 80,000. This figure has proven unreliable of late, however, it will drive trading today nonetheless. Unemployment measured 4.7%, as expected, and average hourly earnings posted a 0.2% increase, below expected 0.3% and easing inflation worry. We proposed earlier this week that Manpower (NYSE: MAN) could offer some short-term pop, and it gapped open higher on Tuesday after a Citigroup (NYSE: C) analyst upgrade. In today's jobs report, temporary employment was noted up 20,000 in October, a good sign for MAN. This is a stock I like over the short-term on valuation and momentum, but I would not hold for long as unemployment likely rises into next year.The jo...
More About: Morning , Rocket

Morning Report: Reevaluation Takes Hold, Stocks Tank, Greek Correct
2007-11-01 13:09:00
(Stocks in this article: Nasdaq: CSCO, NYSE: S, Nasdaq: CROX, NYSE: CVS, NYSE: UL, NYSE: CS, NYSE: EK, NYSE: MHS, NYSE: PTR, NYSE: ABX, NYSE: MER, NYSE: C, NYSE: HON, NYSE: CAT)Equities have opened lower to start Thursday, as the market reevaluates the true impact of the Fed's neutral bias. First and foremost, the dollar already rebounded in European trade. Oil is higher to start the day, after rising yesterday ahead of the FOMC announcement on weak import levels. However, I view the gold and oil drives running on fumes now, and I continue to believe factors are coming together to bring about an oil top. The most important drivers of today's trading follow below:After the dollar weakened again yesterday, it's begun to show signs of life today in Europe. As we suggested yesterday, the Fed Policy Statement clearly communicated a neutral bias going forward. The Fed's intent was unmistakeable. While giving the stock market what it wanted for the day, and keeping credit markets fluid...
More About: Greek , Report , Tank , Morning