New Financial Website. Try it Now!

Friday, May 16, 2008

Morning Update

With earning season in full swing, the excitement is in the air. British Airways which has been in the news a lot the last few months for things they would rather not repeat again, is rumored to post a profit for the latest quarter. This would send the stock higher, as most analysts have downgraded the sector, which has been struggling from skyrocketing oil prices. The FTSE is currently indicating a higher open.

Gold has been in a range trade for the last few weeks, stuck in between 850-900 dollars. While there does not seem to be an immediate reason to break out of that lull, some have noted that the pair is trading in a smaller range every week. This leads us to believe that a break out is coming in the next couple of weeks. The longer the range trade, the stronger the move will be.