Market Wrap for 04.05.11

Economic Data

ICSC-Goldman Store Sales

Store Sales - W/W change	Prev 0.2 %	Current 2.3 %
Store Sales - Y/Y	2.6 %	2.8 %

 Redbook

Store Sales Y/Y change

Prev 2.6 %

Current 0.5 %

 ISM Non-Mfg Index

Composite Index - Level

Prev 59.7

Est 59.7

Range 57.7  to 68.8

Current 57.3

Growth in the service sector slowed in March. The Business Activity index fell 7 points. Employment activity fell 2 points to 53.7, which is still above 50 which indicates  that that employment activity is still moving higher but at a reduced pace. New Orders fell for the second month. Price pressure is still at elevated levels.

FOMC Minutes

FOMC Press Release

The FED sees the economic recovery is gaining traction. The minutes indicate inflation and inflationary expectations remain in check but close attention to these are merited.

Bernanke's Speech on Financial Reform

Price Activity

Metals +0.95%

SI +1.94% GC+1.66% PL+0.79% PA +0.74% HG-0.27%

Bloomberg Silver Market Story

Softs +0.26%

KC +4.76%  CT+2.82% OJ +0.48% CC-1.49%  SB-1.61% LB -3.32%

 Coffee led the "softs'complex higher on concerns over the quality of Kenyan coffee beans.

Grains +0.16%

O +1.49% RR+1.40% C+0.85% BO-0.05% RS-0.20% W-0.47% S-0.78% BM-0.95%

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Bloomberg Story on Corn

Currencies +0.05%

BP +0.99% CD+0.39% MP+0.27% EC+0.04% USD-0.05% SF-0.18% AD-0.27%  JY -0.92%

Indices +0.04%

CRB +0.37% RJ+0.28% EW+0.25% YM-0.07% ES -0.13% NQ-0.70% VIX -0.74

Energies -0.14%

ZK +0.70% RB+0.54% HO -0.01% CL -0.61% NG -1.40%

Financials -0.27%

ED -0.01% TU -0.09%  FV-0.31% US -0.36% TY -0.38%