In Asian Markets both the Nikkei and the Hang Seng Index fell closing at 9045.06 and 20,330.64 respectively. For the Nikkei this is a brand new 3 month low and for the Hang Seng this is the 5th downer in a row and its worst loss in 6 weeks.
Futures remain bleak with gold, silver and crude all lower this morning while natural gas is up over 1.5%, this has been the trending pattern for future so far this week. In the currencies realm the Euro and the pound both fell against the USD about .50% and the Brazilian Real again took a hit down 1.02% for a year-to-date slide of 4.76% against the dollar. Disney started this morning with a strong bid in premarket trade after posting a strong quarterly report yesterday evening. Disney ended up yesterday .40 to 44.70. Goldman Sachs raised AIG to Buy from neutral this morning and raised its price target to $40 from $31, according to Reuters, pointing to a positive look on its global property insurance unit.
Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu<;mailto:ryghcw19@uww.edu>;