Morning Call by Greg Secker

After a frighteningly huge opening burst of positive movement The Dow Jones then spent the entire session meandering to a close that was down a paltry 76 points at 9,310 belying the 700 point range of the day. Today look for similar indecision but tempered by the news break at 1.30pm British Summer Time of the US Producer Price Index which could signal downward movement if negative to expectation. At home the FTSE unsurprisingly played a similar game, but rallied 130 points late in the day to finish 137 points up at 4,394. Today there is some low level news out at 9.30 am BST but given the potential emphasis for further alignment with DOW during the session, late downward movement could drag the day lower should the PPI figures be worse than expected. Gold is trading at $839.50 and Oil trading at $78.63 so that’s it for today - good trading and I will speak with you tomorrow