Wednesday Afternoon Cheat Sheet: 3 Stories That Moved Markets
The markets were mixed today on Wall Street. Traders digested a battery of economic news, but seem to have remained focused on earnings.
At the close: DJIA: -0.17%, S&P 500: +0.02%, NASDAQ: +0.22%.
Oil climbed 0.92 percent to $94.14 per barrel, while Gold fell 0.23 percent to $1,680.00 per ounce.
1) The global financial system is a complicated network of market participants that are constantly rewriting the rulebook in the wake of the recent economic crisis. However, the old wisdom that “if you don’t hold it, you don’t own it” is more evident today than ever before. This concept is not lost on the world’s second largest holder of gold reserves.
Earlier this week, Germany’s Handeslblatt newspaper claimed that the country’s Bundesbank developed a new strategy to bring home gold reserves… (Read more.)