(as of 7:00 AM PST)
2014 ended with a big thud. There were so few active traders that even a small amount of selling pressure could not be absorbed and thanks to the efficient law of supply and demand, stocks kept giving ground finishing the last day of the year down 1%. Today is a turn around however. Traders are back and enthusiastic. Stocks are up at the start. The big story is the strength of the US dollar. The world is jumping on the dollar bandwagon pushing the greenback to record levels. With hopes of a new round of financial stimulus from the European Central Bank (ECB), the Euro is down and optimism is up. On the negative side of this story are gold, oil and other commodities, which usually fall as the dollar strengthens. It's too early to tell how the personality of 2015 will emerge on the financial scene, but so far its a good start.
No comments:
Post a Comment