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BetOnMarkets Morning Report

Discussion in 'Market Predictions and Reports' started by Erik, Jan 12, 2009.

  1. Erik

    Erik BetOnMarkets Representative

    Jul 23, 2008
    Likes Received:
    Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

    The FTSE is currently indicating a lower opening, as traders are deciphering the new aid package to be announced by Mr. Brown. The aid package is supposed to encourage hiring and counter rising unemployment amid the deepest recession in almost three decades. The FTSE will be very sensitive to the announcement, and hopefully will end Monday on a positive note.

    Oil is extending last week's 12 percent drop, on concern production cuts by the Organization of Petroleum Exporting Countries will fail to counter a slump in demand. Prices should continue to tumble, as economic data continues to show a deteriorating economy and a slump in demand. Prices should stay around the 40 dollars per barrel level until the inventory numbers are released on Wednesday

    Predicted opens as of 00:00 GMT

    FTSE: 4422.9 (-35.1)
    CAC: 3271.50 (-28.30)
    DAX: 4730.2 (-59.3)
    DOW: 8550 (-45)
    S&P 500: 884.60 (-3.38)
    Gold: 849.90 (-5.60)
    Oil: 40.50 (-0.30)


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