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Market Update : 
In the Market Rise Rate Hike is Factored
Author: 123jump.com Staff
123jump.com
Last Update: 11:02 AM ET June 30 2005

(Continued)

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Market in the morning hour remains on the offensive. The Bank of America deal to buy MBNA, decline in oil and rally in home builders is supporting the morning rally. In the earnings report BMC software disappoint but RIMM and PalmSource deliver the better earnings.Gold is unchanged.

 
US Dataworks, developer of payment processing solutions posted 4Q loss of 5 cents per share vs. 1 cent for the prior-year same period.


OIL, METALS AND CURRENCIES

In the morning trading hours crude oil is down 57 cents $56.85 per barrel. Oil has receded from the recent record oil prices. However, the weekly Energy Department report showed that the U.S. continues to import record amount of gasoline and oil and demand is growing at least 2% a year.

Gold fund some buying in the morning hours but the after more than an hour of trading the gold is unchanged in the Nymex trading.
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