For Trading in Futures Market: Financial Review
Be back with futures trading market, this time I would like to talk about the financial review by Frank LaMantia. The finance and other markets had big changes when there are some political matters. Working as traders in futures trading floor, we will not want to miss the information. Now let's go around the market!
As reported, a few things have stimulated the market that could create a buying interest. That Berkshire Hathaway may commit to a record spending spree over the next year was mentioned by Warren Buffet. Why did he mention that? He apparently sees value in companies that might be struggling which could add strength to Berkshire. Also fueling the bullish behavior this morning. James Bullard who is president of the St. Louis Fed mentioned that the rise in an oil futures may have not been big enough to damage the recovery. The U.S. seems to be on track for 2011.
Traders appeared are protecting longs heading into the weekend. The reason for this is most likely because they did not want to be caught off guard like last weekend with the oil situation in Libya. When doubt circulates this safeguard might be the right play in the near future. There could still be issues around the Middle East, many are still concerned about. As we see Tunisia is having problems as protesters clash with security forces and the issues in Libya are getting worse. Mr. Qaddafi seems to have his back to the wall as diplomatic immunity has been lifted on him and his family. About Italy, it had a treaty which had a non-aggression clause in it which has been terminated. Even if Qaddafi wins this battle, there may be significant repercussions for his actions. Since Saudi Arabia has been known as the world's number one oil producer, the one issue that does stand out is protestors are starting to congregate in this country. The people want more political rights. Those are some issues that get much care from people and traders all over the world.
Because of such the influences, consumer spending was announced and seems to have slowed down despite people earning large incomes. In detail, as analyzed, spending was up 0.2% which is the smallest increase in over 7 months. It was expected that a 0.4% rise would keep the streak alive. After this announcement, some points might be given back. Also, if Saudi Arabia's current situation escalates be ready for some pressure to the downside.
You have just reviewed the finance market for this week. I hope that the information will help you somehow in predict the market and plan your trading in the coming days.
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