Thursday, June 28, 2012

Morning Breath June 28

Good morning. Happy Thursday.

The Asian/Pacific markets closed mixed. Indonesia and China dropped around 1%; Japan rallied 1.7%. Europe is currently mostly down. France, Germany, Stockholm, London and the Czech Republic are down more than 1%. Futures here in the States point towards a moderate gap down open for the cash market.
The dollar is up. Oil is up, copper is down. Gold and silver are down.
The 27 EU heads of state are gethering in Brussels today for a 2-day summit to discuss the euro crisis. Expectations are low anything meaningful or significant will be accomplished.
The Supreme Court is expected to rule on the constitutionality of Obama’s Affordable Care Act this morning.
Rumors are the JP Morgan trading loss intially estimated at $2B may grow to $9B by the time they unwind the entire position.www.leavittbrothers.com

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