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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (8567)	6/9/2008 7:04:43 AM
From: re3	Read Replies (2) \| Respond to of 71409

ah stop worryin' -g- Stocks looks to rebound after big sell-off By JOE BEL BRUNO, AP Business Writer 2 minutes ago NEW YORK - Wall Street headed for a higher open Monday as investors looked to recover from a huge sell-off triggered by soaring oil prices. ADVERTISEMENT The price of oil backed down slightly in premarket trading, with light sweet crude down 78 cents at $137.76 a barrel on the New York Mercantile Exchange. Stock investors were unnerved Friday when oil rocketed past $11 a barrel, and that caused the worst tumble on Wall Street in 15 months. The reasons behind oil's record-breaking run are somewhat to the market — but its effect on the economy is not. If consumers face higher energy costs, they will pare back their discretionary spending more than they already have. Futures signaled that investors were ready to come back into the market to take advantage of stocks that now appear weak. Dow Jones industrial average futures added 24, or 0.29 percent, to 12,238. Standard & Poor's 500 index futures rose 4.50, or 0.33 percent, to 1,364.00, and Nasdaq 100 index futures rose 6.75, or 0.34 percent, to 1,995.50. Last week, the Dow gave up 3.39 percent. The S&P 500 index closed down 2.83 percent, and the Nasdaq composite index ended 1.91 percent lower. There is little in the way of economic news expected during the session. The National Association of Realtors releases data on pending sales of existing homes at 10 a.m. EDT. Economists predict the April index will hold steady compared with last month at 83.0. Bond prices edged lower. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.93 percent from 3.91 percent late Friday. The dollar rose against other major currencies, while gold prices rose. Overseas, Japan's Nikkei stock average closed down 2.13 percent. Britain's FTSE 100 rose 0.09 percent in midday trading, Germany's DAX index fell 0.14 percent, and France's CAC-40 fell 0.08 percent. ___ On the Net: New York Stock Exchange: nyse.com Nasdaq Stock Market: nasdaq.com