Almost every commodity related stock has been under pressure today. The declines in many of the leading commodity stocks come as the Asian countries continue to fight high inflation with rate increases. Alpha Natural Resources Inc.(NYSE:ANR) is one particular stock that is declining today by $3.88 to $60.25 a share.
Euro Rebounds on Renewed Asian Interest; Ireland Debt Still Concern
U.S. Stocks Called Lower as Traders React to Asian, European Weakness
U.S. stock markets are trading higher ahead of the opening after hitting oversold levels and bottoming in Asia. Traders took the markets lower overnight in a follow-through break following Tuesday’s sell-off, but after reassessing the financial situation in Greece and the general lack of fresh sellers, turned the markets around on bottom-picking and short-covering.