Central Valley Cooperative

Energy - turning higher as the dollar turns lower - global equities are lower, with indications U.S. equities are lower - Very volatile day. This has been another wild and volatile week in the markets. Disappointing economic news both in Europe and the U.S. crushed global equities and rallied the dollar yesterday. We are proving that the global economy cannot handle high priced oil without going into recession. As we started 2011, the energy market was following the 2008 energy rallies very closely. In both cases, the global economy has stumbled. The chance this is a global recession is quickly increasing. Problems in the U.S. are being countered by the Euro zone issues. Banks were targeted again yesterday as global bank stocks took a hit.