Stating The Truth
Today was mostly a sideways day for almost all the markets. Stocks finished down 29 points after starting in positive territory. Bonds were basically level.
Oil and gasoline started their way back up, by adding $2 today. Gold also claimed a small $7 gain today.
Currencies were the quiet market by not having any “hoop-la” in the press. What is very interesting is that the Euro gained against the Dollar and Yen, but without any press. This is very sneaky, and is worth watching. Something is going on behind the scenes in the currency market, and we will ultimately know what it is.
In the news today…..
The main news that moved markets (very little) was the CEO of PIMCO (the biggest bond trading house in the US) stating that housing prices were going to continue tumbling throughout this year, and inflation was here and was very bad. The reaction was the negative news of the press saying that this type of talk just does no good.
Who says stating the truth doesn’t do any good???
Here are today’s numbers:
Dow Jones 30 Industrial – 11,467 (down 29 points)
10 Year Treasury Bond – 4.07% (down 0.01%)
Euro – $1.5904
Gold – $964 (up $7)
Oil – $131.04 (up $2.16)
Gasoline – $3.22 (up $0.05)
