Markets faced a brutal start to the week as the world decided that the recent euro deal was only prolonging the inevitable and not taking a step in the right direction. The Dow sank 162 points while the S&P 500 lost 1.5%, the most of any major index. 10 year bond prices surrendered just over 2% while oil sank down to $98/barrel, creating an interesting buying opportunity for the fossil fuel. By far the worst performer on the day came from gold, which saw its price sink by nearly $50/oz. or 2.9%. Despite today’s crushing blow, gold is still one of the best performing assets on the year, but with euro fears keeping the precious metal on the chopping block, the latter trading sessions of the year could spell trouble for the commodity [see also Three Reasons Why Gold Is Overvalued]. [click to continue…]
Last week shaped out to be yet another range-bound trading frenzy, dominated by fear induced selling in the early part of the week, and ending with a modest rally on Friday as investors cheered on the developments at the summit in Brussels. Gold drifted lower towards $1,700 an ounce amidst the uncertain backdrop. The precious [...]
Investors were left empty handed before the Thanksgiving Holiday; the Euro drama theme dominated financial markets last week as ongoing debt woes stemming from overseas overshadowed a host of positive economic data releases on the home front, including a surprise to the upside in durable goods orders. We anticipate for the spotlight to remain fixated [...]
Domestic equity indexes were fairly flat on Tuesday, although the bulls gave way in the final hours of trading as ongoing deficit woes stemming from both sides of the Atlantic ocean paved the way for profit taking. On the home front, the Fed left interest rates unchanged as expected, and the FOMC minutes revealed that [...]
As ETFs have burst on to the scene in recent years, just about every serious investor and professional money manager has taken a crash course in exchange-traded products, becoming familiar with the countless benefits and nuances of these products. Features such as enhanced transparency, upgraded tax efficiency, and low costs are generally well known at [...]
Earnings season is well underway and investors on Wall Street appear to be quite content with the latest round of corporate performance results from industry leaders. Debt-woes stemming from the Euro zone continue to dominate headlines as investors anxiously await for policymakers to agree upon a comprehensive plan in the near future. Domestic equity indexes [...]
Wall Street started off the week in red territory following concerns that the euro zone debt-drama may take much longer to resolve than investors had originally anticipated last week. Euphoria was quick to return to the markets on Tuesday, however, as stocks soared in the last hour of trading, following an unofficial report that Germany [...]
Stocks finished in bright green territory last week as investor worries over the Euro zone subsided, while corporate earnings at home gave the bulls a reason to come back to Wall Street. France and Germany pledged their full support to the debt-stricken currency block and promised a concrete plan to ensure stability by November. Gold [...]
Wall Street got off to a roaring start as optimism from the euro zone spilled over on Monday. Domestic equity indexes surged, with the Dow Jones Industrial Average gaining upwards of 300 points, as investor confidence saw a big boost after France and Germany pledged their full support to restoring stability in the banking sector [...]
September was one of the worst months in years for global equity markets. Volatility swept throughout every corner of the financial markets as escalating Euro zone debt woes worried investors of an impending crisis. Investor confidence has been slowly eroding given the concerning global economic outlook, prompting many to pull out of the markets all [...]
Wall Street was able to close out the week in solid positive territory, although investor worries remain escalated over the uncertainty still plaguing the debt-stricken Euro zone. Waves of optimism and improvements in investor confidence, following a better-than-expected employment report at home, helped stocks climb higher last week. Gold prices remain range-bound although the yellow [...]
