(As of 7:13 am pacific)
The murder of a US envoy,
Chris Stevens, and three of his staff members in a Libyan riot that overran the
US consulate has cast a pall over other events, including financial news this
morning. It is a very disturbing
development that resulted from the release of a US movie that the Muslim faith
contends ridicules their prophet Mohammed.
Riots are expected to spread in the Muslim world, with progress in
Afghanistan particularly at risk. In
financial news, good news from Europe and expectations of a QE3 from the Fed
this week is fueling a mild rally on Wall Street. Commodities are generally up, led by
gold. The US dollar is down. The market has surged over the last week
based on the expectation of positive Fed action. Anything less than aggressive action on their
part could see a market pullback.
