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Europe continues to have more than it's fair share of problems. Spanish, and Italian debt yields are signaling more bailouts will be needed. Who is bailing these countries out? Oh, it is printed money created by central banks that are bailing these countries out. Portugal and Ireland may need another bailout just like Greece in the near term future. Keep a close eye on Belgium, this country could be the front runner for another EU bailout.
WTI oil is trading lower by $1.97 to $96.73 per barrel. Crude has sold off sharply since the poor job report was released at 8:30 pm EST. Gold and silver are climbing higher this morning. The European debt crisis is certainly a positive for the precious metals as investors lose faith in fiat money. The SPDR Gold Shares (NYSE:GLD) are trading higher this morning by 0.92 cents to $150.10 a share. The GLD has now rallied higher by $6.00 since July 1, 2011.
The Asian markets were mostly higher last night. The one major index that traded lower was the Sensex Index(India). The Sensex Index closed lower by 1.15 percent. Traders can watch for weakness in many of the Indian ADR's s such as Tata Motors LTD (NYSE:TTM), and the India Fund (NYSE:IFN).
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At this point, we have to assume that if the U.S. Dollar Index declines further throughout the trading session the major stock indexes will inflate and trade off the lows. Sometimes this inverse relationship between the U.S. Dollar Index and the major stock markets will disconnect for short periods, however, over the long haul this relationship has been intact for over 10 years now.
The leading commodity stocks are usually the first equities that will inflate higher on the back of the falling U.S. Dollar Index. At the moment, the U.S. Dollar Index futures (DX U1) are trading lower by 0.02 cents to $75.23 per contract. Traders should realize that the U.S. Dollar Index was trading around the $75.73 level at 8:30 am EST when the job report was released. Therefore, the U.S. Dollar Index has plummeted along with the stock market. Should the U.S. Dollar Index start to trade off of the lows the major stock indexes could decline further.
Some leading stocks that will usually trade higher from a weak U.S. Dollar Index include ConocoPhillips(NYSE:COP), Exxon Mobil Corp.(NYSE:XOM) and Freeport McMoRan Copper & Gold Inc.(NYSE:FCX). These leading stocks will also sell off or decline further should the U.S. Dollar trade higher on the session. Our subscribers were alerted to the possibility of the markets selling off into this report, and short positions were taken in anticipation. As you can see by the lower open of the markets these positions paid huge dividends and our subscribers earned major profits. This is an example of the guidance you will receive when you join the Real market Pros. The proof is in the results and the results are right here for you to see; start your Free Trial now, ignore the impostors, join the best and leave the rest behind.
WASHINGTON -- A unit of JPMorgan Chase & Co. (JPM) will pay $228 million to settle civil fraud charges that it rigged dozens of bidding competitions to win business from cities and counties.
J.P. Morgan Securities LLC made at least 93 secret deals with companies that handled the bidding processes in 31 states, according to the Justice Department and Securities and Exchange Commission. Those deals allowed the bank to peek at competitors' offers. http://seekingalpha.com/news-article/1389224-jpmorgan-pays-228m-to-settle-bid-rigging-charges
