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Stock Market News – SanDisk Corp (SNDK) Altera Corp (ALTR) Expeditors (EXPD) and Intuit (INTU) Among Laggards

Logo for Intuit and Sandisk

(Best Syndication News) Stocks are opening lower in Asia early Monday after closing slightly higher last week (see stock charts below). There is little good news in Asia: the Australian Producer Price Index (PPI) declined last quarter and the HSBC Manufacturing PMI for China climbed to just 49.1 in April.

The dollar (USD) was lower against all major currencies on Friday; however on the week the greenback eked-out a 0.94 percent gain vs the Japanese yen (JPY). The euro (EUR) has been hit hard by the political and economic uncertainty surrounding Spanish sovereign debt (see the average forex chart below).

Stock Market Today – First Solar (FSLR) and Apple (AAPL) Among Losers while Rowan (RDC) Among Winners

fslr adn rdc logos

(Best Syndication News) Markets were higher in Asia Friday but are opening mixed in Europe on continued EU concerns (see the stock charts below). Commodities and equities were higher Thursday as the dollar crumbled against most major currencies.

While the Shanghai composite index (China) advanced only 0.35 percent, the Hang Seng (Hong Kong) and Nikkei 225 (Japan) were up over one percent Friday. The FTSE 100 (England) has opened higher while the CAC-40 (France) and DAX (Germany) were lower (see the world chart below for Thursday’s results).

Stock Market Today – SanDisk (SNDK) Slips while American Intl. Group (AIG) Gains – Gold Higher after Close

Images of SNDK and AIG

(Best Syndication News) Stock markets are opening lower in Asia Thursday after another sell-off in the United States (see stock charts below). Equities were lower Wednesday after a near-failed bond sale in Spain and a disappointing statement from the Federal Reserve.

Investors were optimistic there would be more quantitative easing (QE3) after statements made by Ben Bernanke last week. While the Fed Chairman didn’t say there would be another round of QE, the door was left open. The Federal Open Market Committee (FOMC) statement Tuesday was discouraging and didn’t hint there would be more easy money.

Gold and Oil Prices Slide after the session close – USDJPY and EURUSD lower

Light Sweet Crude Oil Graph

(Best Syndication News) Gold and oil prices are falling early Friday as the dollar added value (see the forex and futures charts below). Metal and energy prices were on a different track yesterday, pushing higher during Thursday’s session.

An apparent erroneous report that a Saudi Arabian oil pipeline was on fire sent crude oil prices higher until Saudi officials denied the story. Analysts still worry that oil could breach the $120 mark putting the economy in peril of a downturn. On Friday the focus will turn back to Iran and the tensions brewing between the Persian country and the Western World.

Gold Prices Higher After Sharp Drop – Silver Continues to Slide – Crude Oil Up

COMEX Gold graph

(Best Syndication News) Gold prices fell drastically on Wednesday while the Federal Reserve Chairman spoke to Congress (see the futures and forex charts below). Ben Bernanke’s chat with the Committee on Financial Services coincided with the release of the Beige Book. Neither implied that another round of easing was on the way.

The U.S. Department of Commerce released their GDP numbers via the Bureau of Economic Analysis Wednesday. In their second estimate of the fourth quarter GDP, the Commerce Department said that GDP grew at 3.0 percent. This was better than economist expectations and the first estimate of 2.8 percent.

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