Good morning,Wall Street stocks slumped on Friday on persistent...

Good morning,

Wall Street stocks slumped on Friday on persistent concerns over economic recovery, erasing early gains following data showing a stronger-than-expected US growth in the final quarter of last year.

The Dow Jones Industrial Average fell 53.13 points (0.52 per cent) to 10,067.33, posting losses in five of the last seven sessions.

Analyst said "It remains to be seen, but it feels like this could be the correction that people have been talking about forever. You just can't run as long as much as we have off the bottom without seeing a pullback of maybe 10% on the S&P 500."

LONDON - An unexpectedly strong fourth quarter growth spurt in the United States sparked a jump in European share prices Friday, with investors also hunting for bargains after recent losses.

In London, the FTSE 100 index of leading shares added 42.78 points, or 0.83 per cent to end the week at 5,188.52 points.
FRANKFURT - The German DAX gained 68.46 points, or 1.24 per cent, at 5,608.79 points.

PARIS - The CAC 40 index in France rose 50.67 points, or 1.37 per cent, to 3,739.46 points.

Oil prices extended losses on Friday despite official data showing a rapid 5.7 per cent economic growth pace by the United States in the fourth quarter of 2009.

New York's main futures contract, light sweet crude for delivery in March, dipped 75 cents to settle at $US72.89 per barrel.

Australian stocks are expected to open lower on Monday following a weak lead from the US and most major world markets.

At 0656 AEDT on the Sydney Futures Exchange, the March share price index contract was 47 points lower at 4,499.

GOLD down $1 to US$1083.80 an ounce
SILVER down 2.2c to US$ 16.19 an ounce
COPPER down 4.55c at US$3.0525 a pound

Today's Financial Calendar
February 01 2010

UK PMI Manufacturing Jan
(AUS) - TD Securities Inflation Gauge Jan
(AUS) - Governments intergenerational report
(AUS) - AiG Performance of Manufacturing Index January
(AUS) - ANZ Job Advertisements MoM January
(CHN) - PMI Manufacturing Jan (2x)
(USA) - Personal Income Dec
(USA) - Personal Spending Dec
(USA) - PCE Deflator Dec
(USA) - ISM Manufacturing Jan
(USA) - Construction Spending Dec
(AAI) - Ex div. 3.0c
(AQA) - Interim Results
(MBN) - Full Year Results
(NVT) - Interim Results
(PLA) - Interim Results
(RDF) - Interim Results

http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/

"I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have" Paul Tudor Jones.