Weekly Newsletter - May 8 2009

The stress is out of the way for now as far as the US banks are concerned. The bulls will now have to bank on the political outcome which will be known only after the next week ends.

After weeks of gains we are again at the mercy of the global markets again and of course global investors. The US unemployment rate hit a 25-year high in April, but reports say there were signs of hope as the monthly job loss total fell to the lowest level in six months. This has provided some sweet start to the US markets. Warren Buffett's Berkshire Hathaway will announce its results after US markets close.

Back home, during the week we have some big ticket results coming up. Hindustan Lever will announce its results on Sunday. The other major results to be watched for is that of SBI. We also have the IIP numbers to contend with on May 12. In short, no clear direction expected. Stay light till the election outcome