This week... - The #stockmarket took its first serious stumble since the pullback that was seen in February. Support levels broke this past week and lower prices appear to lie ahead. The #NASDAQ in particular took it on the chin as #hightech and #biotech fell on high volume. #Banks also stumbled with reports of reduced profits due to a sharp drop in trading revenue. Layoffs are apparently underway at major banks. The #USeconomy continues to muddle along but storm clouds are gathering and the bullish sentiment remains unusually high. Hostilities are breaking out in #Ukraine and #Russia is threatening to cut off Ukraines gas. That would or could negatively impact Easter Europe and even into Western Europe. Gas prices jumped last week in #Europe. - #Bonds responded positively to the #FOMC minutes that were more dovish than expected. Bonds are also a safe haven in the event of an outbreak of hositilities in Ukraine. - #Gold prices rose this past week against the backdrop of a falling stock market suggesting that gold is becoming a safe haven once again. Ukraine hostilities and the dovish FOMC minutes helped gold. Gold stocks faltered but the loss was small and contained. - The #US$ Index fell sharply this past week against the backdrop of the dovish FOMC minutes. Will the save come in again at the 79-79.50 level? This has stopped the decline in the US$ Index on at least five occasions over the past two years. - #Oil prices were higher this past week as the potential for disruptions rose with the ongoing hostilities in Ukraine. #Gasprices also jumped especially in Europe on the threat of disruptions.
Posted on: Mon, 14 Apr 2014 13:38:53 +0000
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