International markets are
mostly higher with stabilization in Europe and China smoothing investor
anxiety. US markets opened slightly
higher, but have reversed and are trading near unchanged on economic data that
is uninspiring. A Microsoft downgrade has not helped. Gold is down slightly after a nice run-up
over the last week and Apple continues its very impressive rally. Oil is mixed and interest rates have ticked
up on a very strong dollar. Republican
House leaders have indicated that they will not force a government shutdown due
to the debt ceiling debate next month.
The elephant in the room is still the tapering of the purchase of US
government debt and mortgage debt. Many
analysts fear that this will cause a market correction over the next few
months.
No comments:
Post a Comment