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Richard's Thoughts On Gold, Deflation and Inflation

Daily Recap

 

A very positive jobs number set the tone for a strong day across the board, for stocks at least. With 255,000 new jobs created last month, a much higher number than expected, evidence is again pointing to a strong US economy.

 

Earnings reports continue their trend of being mostly positive as well, led by the tech sector. As a result, the NASDAQ recorded new 12-month highs, and is on the verge of breaking into new all-time high ground, joining the Dow, S&P 500, and other indices that did so last month.

The US dollar also gained today, its index vs. a basket of major currencies up 0.50%. That brought a small rise is traders' expectations of a Fed rate increase in September (November is still the better bet for now). US Treasury yields jumped, up 6 basis points on the key 30-year bond and 10 basis points on the 10-year.

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