Pitguru Frank LaMantia as usual will tell you how financial market working in the whole week under the market analysis. Just learn for your trading!
The Financials Review
For the week of June 20th, 2011
Stocks are down due to a delay in loans to Greece and now news that Italy's credit rating may be downgraded, which may lead to selling risky assets. Euro zone ministers want Athens to introduce austerity measures before $17 billion in emergency loans is given. The deadline is the middle of July before Greece would default.
Ford announced that it is going to spend $1 billion to create a new line of vehicles for its Lincoln line. GE came to a deal with labor unions that covers over 15,000 workers for four years. PNC is going to buy Royal Bank of Canada for $3.45 billion. This will add 420 branches of which most are in the Southwest and is a $112 million discount of the book value. PNC might give RBC $1 billion in stock and give the rest in cash.
Where are the markets headed today? Sell orders are likely coming in on the
S&P. It seems as though the US dollar and treasuries are being looked to for safety but this does not mean the market won't bounce up and down over the summer. It is rare that the market moves straight or straight down for a long period of time, especially in a time with so many question marks. Companies appear to be cash rich because of layoffs and cuts in expenditures since 2008. This has given some big names an opportunity to buy struggling companies.
*Chart courtesy Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results.
The Review on Finance for The Week of June 20th, 2011 
Linear Mode
