The Hang Seng index finished just below start down .16%
European begins positive with the FTSEurofirst 300 up .6%. The auto index is climbing out of its 7.7% hole from last week currently up 2.3% with Renault leading the ascend up 5.9% after being added to UBS’s key call list.
The Euro is currently down .07%.
Commodities are showing an interesting change this morning with crude, gold and silver all currently up and natural gas in the negative.

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

The story is the same in Europe where the 16 Spanish Banks, including the Eurozone’s largest Banco Santander, were downgraded overnight by Moody’s and Fitch cut its debt rating for Greece. European shares are expected to close at their highest weekly decline since November with the FTSE down 0.8% at 973.96 showing a loss every day this week for a weekly total of -4.8%.
This has put the world stocks, as measured by the MSCI Index MIWD00000PUS, down 0.85%, currently below where they began the year. This negated all the ground gained in the first quarter fueled by the European Central Bank’s creation of more than a trillion Euros.

The dollar rose to hit a four month high of 81.758 and the opposite for the Euro hitting a four month low at 1.2649.
Despite the rest of the World the futures market currently have the Nasdaq and S&P pointing toward the positive.
The commodities futures are starting mixed this morning with crude and silver down while Natural gas is basking up over 2.5% and gold also in the green.

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

Europe was battered as fears spiraled out of Spain whose bank Bankia shed over 20% today. Spain’s IBEX fell over 1.8% to its lowest level since 2003 and the FTSE 300 was down nearly 1%. Moody’s is set to report a cut to the credit ratings of 21 Spanish Banks tonight say “Expansion.”
Despite the bleak reports from abroad commodities are starting strong this morning with crude, natural gas, silver and gold all starting in the green, a welcome change.
Rosetta Genomics’, a top performer yesterday, has plunged in pre-trade this morning after announcing a direct offering of common shares at $3.50/share.

In other pre-trade news Target is trading up as Baird announced their shares look undervalued and that should gain market share from struggling rivals, they target $65/share.
The weekly jobless claims are at 370k, which is within the consensus range not a big change since the prior. Continuing claims continue their descent down 61,000 in data for the week of April 28th.

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

First solar shares took a hit today after David Einhorn announced yesterday his liquidation in Q1. Shares moved into new all-time lows currently at 14.30 down over 6%.
Analysts took note as the recent round of earnings came in strong for meat sellers enticing shares upward. Also helping was higher retail price of chicken and beans. Companies include Smithfield foods up 2.2%, Pilgrim’s Pride up 3.9%, Sanderson Farms up 2.4% and Tyson foods up 1.4%.
Rosetta remained the hot stock of the day up over 320% to $7.00.
Geomet was among the hardest hit last trading at 6.50 down over 30%.
The dollar finished with gains as the Euro lost.
Commodities held their streak with crude, gold and silver negative while natural gas gained over 5% to 2.63.

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