(As of 7:00 am PST)
It’s all about the Fed and its
tapering program. Markets are mixed
after solid earnings by retailers this morning could not shake off investor
anxiety about a reduction in the bond buying program by the Federal Reserve
Bank. International markets are volatile
as well since it seems that easy money policies are coming to an end. India, in particular, is experiencing
financial turmoil. Gold is just slightly
positive while the price of oil is getting hammered after a very positive month
of increases. Interest rates continue to
soar with the 30 year mortgage back above 4.5%.
Deleveraging is likely to continue so expect continuing market weakness
as the day wears on.
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