Monday, September 9, 2013

Economic Journal - Monday, 9/8/2013


(as of 7:15 PST)
 
Spillover from a surging Asian markets has US stocks strongly higher at the open this morning.  Strong economic data from both China and Japan were catalysts that sent Asian markets up near 2% overnight.  Gold is up slightly and oil is down after a big run-up last week due to Syrian fears.  The US dollar is down against most foreign currencies and interest rates have reversed to the downside after a significant surge over the last few weeks. The Congressional vote on Syria this week will dictate market direction for the short term, while Federal Reserve talk of tapering activity will also have a strong impact.  Don’t expect these early gains to hold.  There is just too much uncertainty on the horizon and markets hate uncertainty.

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