The Morning Outlook

The Morning Outlook

The Morning Outlook

This morning the futures are pointing up, building on Friday's last minute gains and building on the economies gradual recovery. Strong numbers from Europe and Asia will have a hand in supporting Wall Street at the open this morning. The Euro is recovering from its recent slip and is trading at 1.2264 against the USD. Oil is trading at 73.78 a barrel and Gold is at $1,225.00.

In a breaking story today, U.S. Geologists have discovered a vast mineral wealth in Afghanistan. The deposit could be worth up to $1 Trillion, creating a "massive opportunity" to stimulate the Afghani economy. The deposit is predominantly iron and copper, but also includes niobium a soft metal used in producing superconducting steel, Gold, and Lithium.

Regarding the financial regulation battle, lawmakers are seeing their share of lobbyists attempting to mold the overhaul in a way that will damage their beneficiaries least in these last few days of legislation. With Derivatives at risk of becoming extinct (worst case scenario), and the implementation of the Volker Rule, many financial service firms are campaigning hard to protect their businesses.

Today it was also announced that the nation's 5th largest cable provider, cablevision will be buying Bresnan communications for $1.37 billion.

In world news, the U.S. and Jordan are attempting to negotiate a nuclear agreement to promote the use of civilian atomic energy. Jordan is the U.S.'s closest Arab tie in a constantly turbulent region. The only catch here is that further allied relations with Jordan could anger Israel and spark an atomic arms race in a region ready to brawl. The Obama administration is attempting to step lightly in order to keep all ties at full strength while also supporting the non-violent use of nuclear energy.

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