The Morning Outlook (BP, DIA, SPY)

The Morning Outlook (BP, DIA, SPY)

The Morning Outlook (BP, DIA, SPY)

This morning, the futures have turned for the better, with the major indices pointing upwards slightly. China reported higher than expected export data, reassuring investors that the Euro Zone sovereign debt problem will not spread as wildly as expected. The Euro also rose .5% in response to this news.

In U.S. news, the deficit numbers expanded less than expected, although the number is still astronomical. The April reading of the US Trade Balance is a deficit of $40.3 billion, This was expected to be a deficit of $41.0 billion.

The weekly report on Initial Jobless Claims is 456k. This was expected to be 450k.

Apple is now facing anti trust accusations after the release of the company's new terms regarding developers and ad platform applications. BP is trading at $32.04 up $2.84 or 9% this morning, bouncing back from a 13 year low at the open in London. The stock continues to be dismantled as angry fishermen and dead aquatic animals continue to voice their protests on the news. Yesterday the company was ordered to halt advertisement and dividends to pay for the cleanups

The International news headlines are all very turbulent today, marked by a suicide bomber killing 40 in Afghanistan, A South Korean rocket failure and Tehran bracing for protests. As written by Harry Powell, the U.N. has finally imposed its fourth round of sanctions on Iran, the country is most likely suppressing all internet and phone chatter regarding the sanctions to keep the country from erupting in riotous behavior.

Disclosure: no positions

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