Morning Call by Greg Secker

As expected Friday’s trading on the Dow Jones, with the exchange shut, was quiet, yet still managed a 50 point drop, with both the S&P and NASDAQ trailing downward to close lower on the day. A less volatile week than the previous two, ending over 110 points down on the week’s open. Today after a long weekend a muted response is expected as trading resumes, with indication of continued weakness and further suggestion of the general consolidation. The FTSE ended down 50 points on the day with the majority of that fall occurring within the first hour of trading. Again for the FTSE, a less volatile week than the last two, but still managing a lower close on the week to extend the downward trend. With no major news either side of the Atlantic until Wednesday’s UK Trade Balance and Thursday’s Bank of England Rate Decision, the continuation of last week’s choppy movement is expected for today. Finally Oil is trading at $143.790 per barrel and Gold is trading at $926.200