Stocks may not be able to follow through on Thursday’s strong performance in today’s session, even though overnight trading action out of Japan and Europe is generally on the positive side.
Is Gold at a Turning Point?
Precious metals investors' heartbreak may soon be over
There's no way to sugarcoat the dismal performance of the precious metals in recent months. But a revisitation of the reasons for owning them reveals no cracks in the underlying thesis for doing so.
Some say Americans’ cautiousness is not just a result of the “burn” of the Great Recession; and that in actuality, for a generation, Americans have slowly been showing that their penchant for risk-taking is in decline.
In light of the potential tapering of quantitative easing investors are trying to read the mind of US Federal Reserve Chairman Ben Bernanke. A good starting point is to explore his papers and speeches for clues.
That’s the end of QE tapering talk then? Not quite, but it should die down somewhat, give U.S. Fed Reserve conduit Jon Hilsenrath’s latest kiss-and-tell article in The Wall Street Journal.
Gold conspiracy theorists have a new bogeyman. Inventories of gold bars held in the COMEX warehouses are falling. This fact is offered to support the stale allegations of “fractional gold” and “manipulation”.
The S&P 500 rose by 1.48%, and the Dow was higher by 1.21%, after the market had been lower each trading day this week. The S&P 500 went below its 50-day moving average intraday.
What makes the recent crisis particularly interesting is the role of the government. The U.S. government has been unequivocal in its intention to promote universal home ownership and thereby lessen inequality in the attainment of the American dream.
The talking heads and so-call analysts that are advocates of this being a new bull market have simply not done their homework. In my opinion, as is the case with the public, they too are being lead by emotion.
In an interesting report from Gallup Americans' self-reported daily spending rose to an average of $90 in May, the highest since October 2008 and higher than it has been in May since the $114 found in the same month in 2008.
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