Gold futures were down $5.10 to $1572.30 and WTI crude futures started off down, but were trading up 23 cents ato $88.37.

David Cornes holds a degree in economics from the University of Montana.

As for the state of the economy there are quite a few announcements today:
• ICSC Goldman Store Sales at 7:45am
• Ben Bernanke Speaks at 8:45am
• Redbook at 8:55am
• PMI Manufacturing Index Flash at 8:58am
• FHFA House Price Index at 10:00am
• Richmond Fed Manufacturing Index at 10:00am

In the stock market today the S&P 500 opens on the decline once again at 0.89%
while 10-year treasuries bounce back at 1.40%. Oil is down 0.17% and the dollar is
up again at 0.24%.

What earnings should you watch for today? Apple. The company announces their
earnings after the close and is expected to report earnings of $10.35. Some analysts
believe that Apple could actually break the $11 mark as well.

Make sure to check out our webinar next Monday, 30th and follow us on Twitter
@keeneonmarket.com!

S&P 500 futures fell 20.50 points to 1337.75, NASDAQ futures fell 53.00 points to 2560.25, and Dow Jones Industrial Average futures fell 163.00 points to 12610.00.

David Cornes holds a degree in economics from the University of Montana.

Even harder hit was the Hang Seng losing just about 3%, its worst day Since May. HSBC Holdings was
the big news hitting a 40 month low losing 5.7% today, an 8.6B dollar market value loss in China. China
Merchant Holdings also took a blow losing 5.9%.

European markets, as you may have guessed, were down. The FTSEurofirst shed 1.4% and in the heart of
the problem the Spanish Ibex lost 3.2%. European bank shares fell 4.4% and shares in Italian banks were
temporarily suspended from trading. While these fears are resurfacing in the market many know they
had never gone away.

The Eurozone’s government debt to GDP ratio stands at 88.2% at the end of the first quarter compared
to 87.3% and the end of Q4.

Futures appear to be hard hit before opening with crude losing almost 3%, natural gas and silver 1% and
1.5% respectively and gold .7%.

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

Announcements today include the Chicago Fed National Activity Index and earnings
this morning from Mcdonalds, Haliburton, Hasbro and Coke.

The S&P 500 is down 1.01% from its rise last week due to troubles in Europe. 10-
year treasuries and Oil took an even bigger hit down 4.11% and 3.44% respectively.
The only bright spot is the dollar, up 0.41% at the open.

Make sure to check out our free Webinar tonight at 6:00pm and follow us on Twitter
@keeneonmarket!

Chipotle (CMG) slumped 22%, the biggest drop on the S&P 500, after the restaurant operator’s quarterly revenue came in shy of expectations and customer traffic slowed.

In Europe, markets were broadly lower on concerns that Spain could be forced into a full-fledged sovereign bailout to ease the country’s debt burdens. The Valencia region of Spain said it plans to seek aid from the Spanish government, and a downward revision to Spanish growth expectations further compounded investor worries. The Stoxx Europe 600 fell 1.4%, while Spain’s IBEX-35 index tumbled 5.8%. The yield on benchmark 10-year Spanish bonds rose back above 7%.

Crude-oil futures fell 1.3% to settle at $91.44 a barrel, while gold futures added 0.2% to settle at $1582.50 a troy ounce. The U.S. dollar rose against the euro but lost ground against the yen. The yield on the 10-year U.S. Treasury bond fell to 1.459%.

The Hang Seng climbed 1.7% with some help from the banks and a positive MBA report from the US.
China Construction bank added 2.7% and the Industrial & Commercial Bank of China followed with 2.5%.
Real estate also lagged today in China with China Overseas Land & Investment losing 1.4% and China
Resources Land down .1%, two of only 4 that posted losses in the index today.

European shares advanced to 11 week highs as the FTSEurofirst is currently up .4%, on track for 7
straight week of gains, its longest since 05’. Electrolux jumped 4.4% and AkzoNobel gained 5% after
their earnings beat forecasts. Tool maker Sandvik grew 6% lifted by earnings above market expectations
for Q2. So far 64% of European large and mid-cap firms beat or met expectations and have had profits
increase an average of 3.4% year over year, according to Reuters Starmine data.

Deutsche Bank plans to cut 1000 investment-banking positions as activity in the capital market slows
down due to the Eurozone Crisis.

Nokia Siemens returns to profitability with pre-market shares up 5.8%.

The Home Depot plans to close 10 of its 52 branches across Israel, looking to lower rental costs.

Commodities are benefiting from the upbeat data with crude, natural gas, gold and silver all showing
gains to begin the session.

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

As for the economy today there are quite a few announcements, here is the
schedule:
• 8:30am Jobless Claims – There was an increase in jobless claims this week.
• 9:45am Bloomberg Consumer Comfort Index
• 10:00am Existing Home Sales
• 10:00am Philadelphia Fed Survey
• 10:00am Leading Indicators

In the stock market today the S&P 500 is up 0.67% as well as 10-year treasuries at
1.33%. Crude oil is up 1.47% while the dollar is down 0.34%.

Regarding the stock market the topic everyone won’t stop talking about is the Libor
scandal. Barclays and numerous other banks were found to be fixing the rates. But
other than fine the companies what can the government do? Bernanke says it is up
to the FSB find a solution.

Make sure to check out our Webinar on Sunday, 22nd and follow us on Twitter
@keeneonmarket!