Overnight Briefing: American Timezone

U.S. stocks retreat

Tue, May 6 2008, 06:07 GMT
by Jyske Bank Team

Jyske Bank


  • Australia trade deficit narrows

  • Crude oil holds above record USD 120

  • The dollar broadly softer

Today’s main events:

  • EUR Euro-Zone PMI

  • EUR Euro-Zone Producer Price Index

  • USD FED’s Hoenig speaks


American Time Zone:

U.S. Stocks retreat

U.S. stocks retreated as retailers fell on record oil prices and Yahoo! Inc. tumbled the most in almost two years after Microsoft Corp. dropped its USD 50 billion bid for the company.

Macy's Inc. led chain stores to their biggest drop in five weeks as oil jumped above USD 120 a barrel. Yahoo, the most-visited Web site, slid 15 percent as analysts advised selling the shares. Lower-than-forecast earnings at Warren Buffett's Berkshire Hathaway Inc. sent 22 of 24 insurance companies in the Standard & Poor's 500 Index lower.


EUR higher against USD

The euro rose against the dollar for the first time in three days on speculation the European Central Bank will keep interest rates at a six-year high this week to control inflation.


Oil at new record high

Crude oil rose above USD 120 a barrel to a record in New York after a report showed that U.S. service industries expanded in April, signalling higher energy use.

Published on  Tue, May 6 2008, 06:10 GMT

Archive

Jyske Bank  | Vestergade 8-16, DK-8600 Silkeborg
http://www.jyskebank.com | jyskebank@jyskebank.dk

Legal disclaimer and risk disclosure

The analysis is based on information which Jyske Bank finds reliable, but Jyske Bank does not assume any responsibility for the correctness of the material nor for transactions made on the basis of the information or the estimates of the analysis. The estimates and recommendations of the analysis may be changed without notice. The analysis is for the personal use of Jyske Bank's customers and may not be copied.

Interested in forex trading? forex brokerage firms!


GFT Futures
Contact the broker/FDM		Man Financial Limited UK
Contact the broker/FDM		Velocity Futures, LP
Contact the broker/FDM

Placing FXstreet.com as your referral agent on your FX trading account and generating rebates higher than the Premium fee, FXstreet.com will give you access to the premium subscription for free.
Become an FXstreet.com Premium Member for only 45 EUR a month or 450 EUR a year if you are private trader, 900 EUR a year if you are a corporate trader.
More info


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.

Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

©2008 "FXstreet.com. The Forex Market" All Rights Reserved.