Gold futures sank to a six-week low this week, crossing back over the $1,200 per ounce line. The price of gold for August delivery fell $12.60 to $1,195.10 per troy ounce on the Comex in New York trading. Global equities started the day strongly, although they declined as trading continued. U.S. stock index futures were… Read more.
The U.S. Department of Labor reported a slight improvement in the continuously unsteady job market, with 19,000 fewer initial unemployment insurance claims for the week ending June 19, down from the previous week’s figure of 476,000. The four week moving average for seasonally adjusted claims was 462,750, a slight decrease from the previous week. These… Read more.
The former Chairman of the Federal Reserve warned markets and officials of the dangers of the national debt in a Wall Street Journal op-ed Friday. Greenspan said that even with debt soaring almost $3 trillion in the last 18 months, investors and the administration seem curiously unconcerned with the danger of borrowing. Greenspan compared the… Read more.
Equities investors appeared to shrug off the news of Greece’s downgrade to “junk” bond status on Tuesday morning as U.S. stock market futures were up, reported Bloomberg. On the flip side, the yield that investors demand to hold 10-year Greek bonds jumped 74 basis points to 9.08 percent. As investors lose more and more confidence… Read more.
Currency futures are likely to be influenced by recent downward pressure on the euro, which has continued to struggle at four-year lows in recent days. The euro got off to a difficult start this week as the market reacted negatively to news that Spain had experienced a credit downgrade, following on the heels of previous… Read more.
Investors looking for a traditional safe harbor in light of ongoing jitters in the stock market may want to take a closer look at gold futures. Gold has enjoyed a price run-up over much of the last decade, but investors are still attracted to the precious metal because it is seen as a traditional safe… Read more.
Stock index futures got off to a shaky start on Monday in the aftermath of last week’s announcement of a downgrade in Spain’s credit rating. On Friday, Fitch Ratings indicating that it had downgraded the credit rating of Spain’s Instituto de Credito Oficial from AAA to AA+. While not a dramatic cut in its own… Read more.
For decades, 30-year Treasury bond futures have been an attractive option to investors drawn by the creditworthiness and stability of the U.S. government. However, there is growing speculation among financial experts as to whether this will always be the case, especially now that free-spending European nations are starting to see their own longstanding debts come… Read more.
Oil futures appear to be losing momentum for investors this week in light of renewed concern about the economic recovery, both in the U.S. and overseas. Stock markets around the world were already jittery in light of the ongoing debt situation in the European Union, where some member states are considered candidates for a sovereign… Read more.