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Tuesday, November 25, 2008

BetOnMarkets Morning Report

The FTSE currently indicates a flat open, as traders realize that todays trading will be dictated by the US GDP numbers. Everyone will be watching to see if the numbers will show a contraction, which would indicate an official recession. This could result in the FTSE giving back most of their gains earned on Monday.

Oil jumped back to life on Monday gaining more then 9%, however there are concerns that the rally was more of a last gasp rather then a start of a new trend. Should crude add to those gains, we should see oil jump back into the 60 dollars per barrel mark