Dollar Weakness Good for Gold Bugs By Stuart Kaufman It’s been an exciting and volatile couple of weeks. Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson are now in front of Congress for three days of testimony, and I expect the $700 proposed bailout of the financial system will be approved rather quickly. [...]
Here Comes $500 Oil – CNN Money/Fortune Be Ticked Off- But Get Over It – CNNMoney Goldman, Morgan Stanley Bring Down Curtain on an Era – Bloomberg Dollar May Get Crushed as Traders Weigh $1 Trillion Cost of Bailout Plan - Bloomberg Crude Oil Has Biggest Gain Ever as Dollar Drops Against Euro – Bloomberg Treasuries Irresistible as [...]
Government Financial Fixes Prop Stock Indexes, But Price Tag Big By Jeff Friedman There has been so much news about our financial system and how it’s been affecting both financial and commodity markets. We’ve had some wild swings in the past week–what a rollercoaster ride! Hundreds of billions of dollars for bailouts, it’s incredible. [...]
U.S. Plans Sweeping Cleanup – Wall Street Journal World Markets Soar – Associate Press London Surges Most in History – Telegraph Treasury to Guarantee Money Market Funds – Reuters SEC Bans Short Selling for Financials – CNN Money Russian Stocks Resume Trading – Associated Press Oil Rises Above $98 – RealClearMarkets Gold Tumbles as U.S. [...]
In what’s been a rollercoaster of a week, the stock market is on the rebound amid heavy volume. Thursday saw a record-setting 6.9 million contracts change hands in the E-mini S&P 500 futures. S&P futures surged more than 70 points in early trade this morning after the Federal government announced a sweeping series of measures [...]
Officials Weighing Plan to Ease Crisis, Schumer Says – Bloomberg Dollar Declines on Bets Actions by Central Banks to Fall Short – Bloomberg Money Funds See Record $90 Billion One-Day Drop – MarketWatch Firms Stress Calm as Investors Flee to Safety – MarketWatch Gold Tops $900 an Ounce as Crisis Continues – MarketWatch Scrapping U.S. [...]
The stock market is regaining some footing after Wednesday’s financial meltdown that saw safe-haven assets like Treasuries, gold and other physical commodities skyrocket. S&P 500 futures were last trading up 19.60 at 1182.50 after plunging more than 53 points Wednesday. The Dow Jones Industrial Average is likewise trading higher this morning, after falling more than [...]
U.S. Takes Over AIG: $85 Billion – Wall Street Journal Russian Markets Halted for 2nd Day as Emergency Funding Fails to Halt Rout – Bloomberg Are We Going Overboard With Bailouts? – LA Times Treasury 3-Month Bill Rates Fall to Lowest Since World War II - Bloomberg Gold Soars Most Since 1999, Silver Surges on Demand [...]
Crude Oil Oversold? Crude oil futures are bouncing back after falling about $10 a barrel in two days and hitting a seven-month low. The NYMEX November contract was last trading at $93.29. Lind Plus Senior Market Strategist Richard Ilczyszyn says although he’s not longer-term bullish, he sees $100 likely again in view and recommends buying [...]
Fed Keeps Rate at 2.0% – Federal Reserve Press Release It Is in America’s Interest To Save AIG – Financial Times Wall Street’s Next Big Problem – New York Times The Resilience of American Finance – Wall Street Journal It’s Good to Let Firms Fail – Washington Post What Will Come Next? – New York [...]
