The Markets
- Traders have a lot to digest this morning. Major companies have reported over the last several days and the signals are mixed, to say the least. Now it will be encumbant for investors to separate the weak from the strong, the strong from the strongest.
- Ford reported much better than expected losses (can that be right?) and forecast profitability by 2011. Pundits are expecting profits before then. Shares are up a whopping $0.90 as I type. Merrill upgraded the stock to buy. I bought some early this morning and will probably flip it on the opening.
- From Potash (POT): Chief Executive Officer Bill Doyle temporarily shut down some mines as demand declined, causing the company’s average potash price in North America to more than double to $639.91 a metric ton in the quarter. North American sales volumes of the form of potassium fell 86 percent from a year earlier, and shipments overseas plunged 78 percent. “In North America, potash fertilizer sales ground to a virtual halt as farmers seemed to expect a price decline similar to those in nitrogen and phosphate fertilizers,” Potash said today in its first-quarter earnings statement.
- Am wondering what the above says about US farmers and about US commodity prices.
- How did Bernie do it?For those who cannot get enough info on that creep Bernie here is the story. http://bit.ly/jRnON
- Oh, oh. Will The UK Lose Its AAA?
Weather here to be in the low-80’s here so I will want to be outside. But the pull of the market is never far away. Make it a great Friday!
