Monday News to Watch...

The situation with Iran, which I've already posted about, could drive the markets this week. Another important story is the new home sales numbers coming out today at 10 am. The consensus is a rise of 5.7% to an annual rate of 990,000. If that number is a surprise and over a million, that will be dollar bullish/gold bearish.

Other stories to watch …

OPEC Dictates Higher Price, Market's Relative Scarcity as Crude Oil Surges Saudi Arabia is shipping less oil to customers. OPEC by February reduced daily output by 1 million barrels. Global inventories this year fell the most in a decade.

Intel Plans to Invest $2.5 Billion in First Semiconductor Factory in China Intel Corp. said it chose China for its first new computer-chip factory in 15 years, investing $2.5 billion to be closer to customers in a country that assembles about 50 percent of the world's personal computers.

Chavez: China to become a top oil client President Hugo Chavez said China is set to rival the United States as Venezuela's top oil buyer as he announced new plans with the Asian powerhouse to jointly ship oil, build refineries and expand crude production.

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