Gold Bugs, the Fed, and Yahoo’s Overhaul: Market Recap
U.S. equities echoed market losses from around the world on Monday and declined. Traders seem unwilling to act bullishly with the minutes from the last Federal Reserve meeting due to be released on Wednesday. Any information indicating that tapering is imminent — widely expected to be announced at the upcoming September meeting — could increase selling pressure.
|DJIA: -0.47% to 15,010.70||S&P 500: -0.59% to 1,646.06||NASDAQ: -0.38% to 3,589.09|
|Gold: -$5.50 to $1,366.20 per ounce||Oil: -$0.46 to $107.00 per barrel||U.S. 10-year: +0.055 to 2.880%|
Breaking Up Is Hard to Do: Markets Fret Over Central Bank Policy: Markets are watching every move coming out of central banks as any action taken could be potentially roiling to sensitive investors. As market makers continue to look for solid ground in the tumultuous global economy, the actions of head bankers continue to set the pace even more so than governments. Policy directions from a central bank can change on a whim, while lawmakers the world over can’t pass a bill without undergoing major public drama.
Is Greece’s Economy Actually Healing? Greece is getting some good economic news to start the week with the country’s primary budget surplus rising more than predicted in June. A rise in tourism was the main driver of the surplus as the struggling country saw receipts for tourism up 21 percent year-over-year, making for a total of 1.59 billion euros in June. For the first half of 2013, this brought the receipts total up to 3.32 billion euros — an increase of 18 percent from the first half of 2012.