Morning Call by Greg Secker

The FTSE closed 73 points higher at 3,926 after a choppy day of movement, only benefiting from the Bullish sentiment being displayed on the Dow during the last hour and a half of the session. Today with a range of low to moderate financial news reports out at 9.30 and with further upward movement on the Dow the 4,000 level could well be breached and held. Yesterday in America, The Dow Jones climbed 889 points to close at 9,065 with indications that he credit freeze is thawing and ahead of the Fed’s interest rate decision expected to result in a cut to 1% which will be announced at 6.15pm. Today with a varying group of reports ranging from statistics on American Mortgage Applications at 11.am, starting well before New York opens, right through to the Fed’s interest rate decision mid session look for more gains should the news breaks be positive. Oil is trading at $62.73 and Gold is at $740,50. Good trading and I will speak with you tomorrow.