Category

Federal Reserve System

We Made Exactly the Right Call on Powell’s Speech

“What can I say except ‘you're welcome’ for the tides, the sun, the sky?” Fed Chairman Jerome Powell spoke at 2:30 PM this afternoon, and, as I predicted yesterday, at 2:35 PM, the S&P 500 did what I said it would do. We peeled off after the Fed’s announcement and hit the third standard deviation […]

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Global Market

World Stock Markets Lifted Following Japanese Elections

World stock markets were mostly higher overnight. U.S. stock indexes are also pointed toward firmer openings and new record highs when the New York day session begins.

Gold prices are lower in pre-U.S.-session trading, amid the better risk appetite seen in the marketplace in recent sessions. A firmer U.S. dollar indexx to start the trading week is also bearish for the gold and silver markets.

In overnight news, the Japanese yen saw pressure against the U.S. dollar after Japanese elections showed Prime Minister Abe and his coalition government with a lop-sided victory in snap elections.

Global Markets

Gold Up, World Equity Markets Under Pressure, From Trump Uncertainty

(Kitco News) – World stock markets were mostly weaker and tried to stabilize Tuesday after the sharp sell-off in U.S. and European equities on Monday. Asian stock markets followed on Tuesday by trading lower. Markets in China are still closed for the Lunar New Year holiday. U.S. stock indexes are pointed toward weaker openings when the New York day session begins.

Gold prices are posting good gains Tuesday morning, on safe-haven demand amid the world stock market selling pressure.