Richard's Thoughts on the Investment Line
The week finished on a down note today, the "quadruple-witching hour." Downward pressure started in Europe, where Deutsche Bank, down 8%, led prices lower and the STOXX 600 0.7% lower.
In the US, a stronger than expected CPI number (still only a measly +0.2%) pushed the dollar higher and bonds lower. Fed-mania continues, joined by Bank of Japan-mania as both are set to meet next week. Might they tweak rates ever so slightly higher? Oh heaven forbid!
And then there's oil, down again and dragging our energy shares with it. Precious metals are getting slammed today too; gold is down $4, silver down 16 cents, platinum down $14. XAU, unable to fight lower stock and lower metals prices, is down 1.5%.
Stocks as a whole finished weak: the Dow ended down 89 points and other indices were similarly lower, dragged there mainly by weak tech and energy shares. Oh, and also perhaps by Hillary's ... Log in or subscribe to continue reading.
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