Global political tensions are
high today. The international community
is stepping back on support of a military strike against Syria even as the US
seems on an irreversible course of action.
US stock markets are experiencing a disconnect from the Syrian problem
with strong economic data pushing the markets up moderately this morning. US 2nd Quarter GDP was revised
upward to 2.5% growth, a very strong reading. Jobless claims dropped below expectations as well, indicating that the
US recovery continues on track. Gold is
down after a downgrade by a major investment bank, while oil is also retreating
from yearly highs. Expect fears of
Federal Reserve tapering its bond purchases to put a ceiling on markets
gains. A US military strike against
Syria could rapidly change market dynamics.
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