Five Things to Watch: Squawking with Warren and Metals Mania
Record-breaking gold tries to keep pace with silver in a busy week that begins with Buffett's burden and drumrolls towards Jobs Friday. Here's what we're watching...
All That Glitters: With the dollar touching a three-year lowin its post-Fed free fall, gold closed at another record level Friday. What's wild is that the real breakout story in the precious metals space is silver, which finished April up nearly 30% (!!) for the month. How high and how fast are the questions on the mind of traders going into the week.
Buffett Watch: As Berkshire Hathaway's weekend-long annual meeting concludes, the Oracle of Omaha had some pretty harsh wordsfor his onetime lieutenant, calling David Sokol's behavior "inexcusable and inexplicable." He now joins Becky Quick and the Squawk Boxteam at 8:00am ET Monday to talk about the Sokol affair, investing in the current environment and much more.
Chrysler's Long Drive Back: As GM trumpets its reinvention and Ford continues its revival, Chrysler is the third leg left behind. Now, there's increasing optimism surrounding the automaker after it announced plans Thursday to repay the outstanding high-interest loans from the U.S. and Canadian governments. On Monday, Chrysler will deliver first quarter financial results, in which a return to profitability is expected. Analysts are most focused on any further news about the company's plans for IPO.
Waiting for Raj Verdict: Jurors are expected to resume deliberationsin the insider-trading trial of Galleon Group founder Raj Rajaratnam Monday morning in lower Manhattan federal court. We have no, um, insider information but with each passing day, we're starting to wonder if the early calls about a slam-dunk case may have been premature.
Ahead of Jobs Friday: The week's economic data calendar gets underway with a pair of production indicators at 10:00am ET Monday. Construction spending for March is expected to tick up by 0.4%, while April's ISM Manufacturing Index is anticipated to come in at 59.5, slightly lower than March's 61.2 reading. Traders will focus on the employment figures in the ISM report as tea leaves ahead of Friday's employment report.