The FTSE currently indicates a lower opening, brining the 2 day rally to an end. While some investors might attribute the lower opening to profit taking, others are worried that the sagging corporate profits will overshadow the bailout. Currently the FTSE is indicating an opening down by 2 percent.
Oil has tracked movements in equity markets this month, as the credit crisis deepened. Oil traders will have a full plate tomorrow as they await the release of the inventory supplies data. There is a strong possibility that oil will touch the 75 dollar per barrel level before stabilizing.
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