Equities rally, dollar stronger and precious metals decline

Posted By on October 31, 2014

A big morning for stocks as global markets celebrate Japan expands their stimulus. The DOW hit an all-time intraday high as giddy investors bought blue chip equities expecting the economy to continue to grow. cnbcmarkets141031The good news of better corporate profits and the Federal Reserve’s finalizing their stimulus makes Wall Street feel good … BUT Americans are spending less (weakest in 8 months). The not so good news for those looking to oil for income is that it continues to be under pressure, but it does act like a tax cut for those of us filling our tanks or shipping product.

As expected, precious metal investors continue to get crushed as Gold is well below it’s $1200 support level and trading at a 4 year low and silver slipped below $16/oz.

goldsilver141031
The dollar rose to a four-week high against a basket of main currencies, boosted as well by the Bank of Japan’s surprise move to expand its massive monetary easing, which weakened the yen to near seven-year lows.

Comments

Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.
Do NOT follow this link or you will be banned from the site!