Wall St set to drop as commodities retreat (ETF: XLE)
June 15th, 2009
Ellis Mnyandu, writing for reuters, reports that, “Shares of energy, mining and other natural resource companies were likely to be among the top drags. Before the bell, the Select Sector SPDR Energy ETF (XLE) shed 1.7 percent in light volume.
A decline on Wall Street would extend a global sell-off that tripped equity markets in Asia overnight and had European stocks falling about 2 percent, or more, as the appetite for riskier assets ebbed.
“We have a stronger dollar, and that’s putting pressure on commodities, and that’s weighing on the market early on,” said Peter Cardillo, chief market economist at Avalon Partners in New York.”
The Euro’s Demise Has Been Set in Motion: Are you protected?
"Nationalism will emerge. Healthier countries will not see fit to spend their hard earned money to bail out their less responsible neighbors."
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