(As of 7:18 AM PST)
The markets are in the doldrums in spite of an upbeat durable goods report this morning. Gold and oil are down slightly and the US dollar is mixed. Overnight, the Japanese stock market recovered some of the large losses of the prior session. It is shaping up to be a quiet day on the markets going into the 3 day Memorial Day weekend. The dominant issue for investors seems to be how and when the Fed will exit the Quantitative Easing program, a program which has contributed mightily to market gains over the last few years. Markets may recover their losses today, but the overhang of this critical issue might make for a negative and sluggish summer season.
On a personal note, it was 35 years ago this Memorial Day that a jet fighter crashed on takeoff, slamming into an apartment complex in Tacoma, Washington. To view a video of the event go to www.millerfinancial.biz and click on ‘Memorial Day Miracle’.
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