Walstreet Today : March 25,2008

Source : CNN

Walstreet almost ended flat today with minimal gains in Nasdaq,S&P and minimal loss in Dow Jones. Dow down by 16 points ( - 0.13%) , NASDAQ up by 14 points (+0.61%) and S&P up by 3 points( 0.23%).

Triggers :
1. Weaker than expected on new home prices. The prices dropped by 10.7% in Januaray in 20 Key markets
2. Weaker report on consumer confidence which slumped to 64.5 in March from 75 in Feb
3. Treasury Secretry comments on Social Security System that "the current system isn't sustainable financially and will run dry in 2041 unless quick action is taken to fix it."
4. Valero Energy, the oil refiner warned that first-quarter earnings won't meet forecasts
5.Crude oil for May delivery rose 36 cents to settle at $101.22 a barrel
6.COMEX gold for April delivery rose $16.30 to settle at $935 an ounce
7.The dollar gained versus the euro and fell versus the yen

Impact On India : Indian Markets should open flat today and can lose all the gains becasue of profit booking. Also thing to watch out is F&O expiry. Lets see if Nifty can stay above 4700 levels or not by end of the day!