Part of BNN Report by Marty Cej:
Coal stocks have been getting beaten up in recent days and may come under pressure again today after Alpha Natural Resources, a miner of metallurgical coal, not granola bars, said it would cut 1,200 jobs and slash output by 16 million tons amid tepid demand. Again, Alpha's report will be taken as a read on the broader global economy.
We'll also be keeping an eye on gold and oil after some volatile trading late in the session yesterday. Any worry about the global economy tends to weigh on oil and some investors might be taking the opportunity to sell into a rally that has driven crude up 27 percent from the end of June to over $100 a barrel last week. Gold, helped by the prospect of more quantitative easing in Europe and the U.S., has advanced 15 percent since mid May. Australia's Bureau of Resources said overnight that gold may fall a little more than 4 percent in 2012 to average $1,630 as the global economy improves.
Frank Stronach has a fly in his strudel and he doesn't care who knows it. The founder of global autoparts heavyweight Magna sits down with Howard Green today at 1:00 p.m. ET to talk about Europe's debt crisis, his plan to launch a new political party in Austria that would demand the country's exit from the euro-zone, and the future of the auto industry.