Despite this sharp decline in equity markets, EUR/USD has been fairly resilient this morning. It is trading flat for the week – compared to a 2% declines in oil and equity markets. Gold prices are up 1.6% over the same period.
Today, oil prices briefly fell below $101 per barrel, hitting a low of $100.75. Support is expected at the $100 figure. Natural gas, which was higher early in the session, has fallen to fresh lows, down 2% to 2.061. Guess you can’t disguise a dog with lipstick.
More News and Numbers:
– Best Buy’s (BBY) CEO resigned today, while Yahoo (YHOO) announced a new structure (Forbes). BBY is trading down 4% after an initial spike; YHOO is down nearly 1%
– Gartner estimates that demand for Apple’s (AAPL) iPad 2 will cause worldwide tablet sales to soar. Tablet sales should be 119 million units in 2012. AAPL is trading down 0.6% to $632
– Alcoa (AA) is down nearly 2% ahead of earnings report tonight, which expects $0.04 loss on the quarter