Good morning traders!

In the US last night, the Dow slumped 267 points to 16,170, the Nasdaq slid 130
points to 4,054 and the S&P500 retreated 39 points to 1,833.

In Asia today, the Nikkei was recently down 340 points at 13,960 and the Hang Seng
off 153 points at 23,034.

WTI crude oil traded at $103.40 a barrel and Brent crude at $107.46.

Gold settled at $1,320 an ounce.

Happy Friday!

G.

Opening Market Overview

Finally bought into PHNX this morning, after day trading it recently on 'FCA' day.

Still potentially risky with the sword of the Damocles that is the FCA, but apparently tipped in the IC and (I think) worth the risk.

I'm thinking of buying into one or more of the following:

As per my 'Motley Fool e-mail':

In fact, I think the British consumer could awaken to improving conditions a lot sooner than some City analysts are expecting.

And when conditions do improve, we'll start to see more people loosening their belts and spending a little more on their weekly shops.

At this stage, even a small improvement could mean a big difference for the likes of Tesco, Morrisons and Sainsbury's.

All told, I think all three supermarkets look good value today and should deliver healthy gains as they recover in the years to come.

These are all pretty near rock bottom and pay good dividends too. Any thoughts anyone?

Ironically, I sold half of my remaining TSCO holding to buy PHNX.

Midday report

USD PPI m/m 0.5% 0.1% -0.1%

USD Core PPI m/m 0.6% 0.2% -0.2%