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Oil Rally Doesn’t Look Like It’s Going To Stop Anytime Soon

|Includes:Global X FTSE Andean 40 ETF (AND) – 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.
Stocks: AND