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Jeremy Frommer, CEO of Hedge Fund LIVE Jeremy Frommer has 20 years of industry experience and is currently responsible for general management and leadership of the General Partner. Previously, Mr. Frommer was a Managing Director and Head of the Global Prime Services Group (“GPS”) at RBC... More
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  • Oil Rally Doesn’t Look Like It’s Going To Stop Anytime Soon  0 comments
    Mar 7, 2011 9:54 AM | about stocks: AND

    HedgeFundLIVE.com – Morning Notes

    - Global indices are mixed this morning
    - In China, the NPC released a 5 yr plan over the weekend- GDP growth of 8%, curbed inflation as a result of less gov’t spending, domestic consumption will be key driver of economy
    - Shanghai Comp closed up nearly 2% in response to the plan
    - Oil rallying further in pre market as Libya unrest continued over the weekend- hit 106.95
    - Turmoil in Libyan city, Misrata, growing severe- doesn’t look like problems will be resolved anytime soon
    - Saudi Arabian- banned all protests ahead of Friday’s “Day of Rage”; detained 20+ Shiites who had protested last week
    - Meanwhile, Nikkei closed down 1.8%
    - Japan’s Foreign Minister resigned
    - Greece was downgraded by Moody’s (by 3 notches)
    - European markets opened up weak, but have recovered since- FTSE and DAX have made it into the green
    - Gold up, hit all time highs; silver strong as well
    - Not much on the calendar for today- we have Consumer Credit data out at 3p
    - S&P futures trading flat ahead of the open



    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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