Pre Market Report - July 9, 2008

By: Rebel Traders Wednesday, July 09, 2008 10:01 AM

Symbols: FNM, FRE

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Iran, in a move to say "Don’t mess with us" has test fired missiles that overnight to demonstrate they have the capability to strike their enemies. This has created a slight rise in crude oil prices this morning.

Prime Minister Mr. Fillon of France says the global economic conditions remain difficult and expects the 2nd half of 2008 to "be even harder". Fannie Mae (FNM) and Freddie Mac (FRE) have been downgraded by derivatives traders on capital concerns. Full story HERE.

Pre market futures are up at this time, but it is too early to gauge the extent, if any, what follow through is on tap for today. We have to wait for the market to show us her cards today.

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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.

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