Market Close with Big Al
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June and July are historiclly TERRIBLE months for Gold and Silver 😉
Wasn’t Summer 2010 good for gold – off the top of my head – or am I mistaken?
I would say not.
Al, thanks for your labor of love for this forum. Have the Best of 4ths!
“DITTO”
Iv’e been on here for a few years & in that time my respect for the Big Fella has grown. Yes I have had a few run-ins with him , but that just increased my respect for him.
AL…Live long & prosper……X
And, of course, you also Mr Irish!
And you also, Marty!
“Deutsche Bank Poses The Greatest Risk To The Global Financial System”: IMF
Interesting, Market
Close Update: U.S. Stocks Post Third Day of Gains With Dow, S&P Nearing Pre-Brexit Levels
04:30 PM EDT, 06/30/2016 (MT Newswires) — The main U.S. stock indexes strengthened on Thursday, rising a third day as the Dow Jones Industrial Average moved within about 81 points of the level it was a week ago, before results of the UK referendum on exiting the European Union were known.
The S&P 500 was about 14 points from its June 23 close, with all 10 of its sectors advancing. Consumer staples led the gains, rising 2% while utilities increased 1.9%.
Investors emerged this week from the sharp sell-off inspired by the referendum to look for bargains ahead of the quarter’s close-out and a long holiday weekend. Comments by Bank of England Governor Mark Carney that more monetary stimulus is likely in the wake of the Brexit-fueled economic jolt added support to the indexes.
Financial stocks rose 1.2% after the Federal Reserve said it objected to the capital plans of only two of 33 lenders in its stress tests.
Only Visa (V) lost ground among the 30 Dow blue-chips after an appeals court vacated a settlement of claims in a case alleging credit card firms improperly fixed swipe fees more than a decade ago. Rival MasterCard (MA) also retreated.
US oil prices posted a loss of about 3% on indications of increasing crude supplies. In economic data, Chicago’s June purchasing managers’ index jumped to 56.8 to beat expectations for 50.5 to score the highest level since January 24. Weekly jobless claims were at 268,000, just above forecasts for 266,000.
Here’s where the markets stood by the close:
US MARKETS
Dow Jones Industrial Average rose 235.31 points (+1.33%)
S&P 500 rose 28.09 points (+1.36%)
Nasdaq Composite rose 63.43 points (+1.33%)
GLOBAL SENTIMENT
FTSE 100 was up 2.27%
Nikkei 225 was up 0.06%
Hang Seng Index was up 1.75%
Shanghai China Composite Index was down 0.07%
Thanks, Paul L.
What A pontificate statement Pope AL !
Oh yeah Janes, that’s me!
MORNING NEWS CALL
PROVIDED BY REUTERS U.S. EDITION Friday, July 1, 201
6
TOP NEWS
•
European factories bounce as Asia struggles, but Brexit poses threats
Factories across Europe enjoyed a buoyant month in June but that growth
could be under threat after Britons voted to leave the European Union last
week, surveys conducted almost entirel
y before the historic referendum
showed.
•
Europe needs Brexit roadmap urgently, says ECB chief economist
Europe urgently needs a “roadmap” on Britain’s plans to leave the European
Union, the European Central Bank’s chief economist Peter Praet said.
•
Mondelez’s move on Hershey sends shivers through cocoa market
When Olam International agreed to buy rival Archer Daniels Midland Co’s co-
coa processing business in December 2014, catapulting it into the top echelon
of bean buyers, confectioners worried a
bout its outsized power over prices.
•
Alibaba launches new anti-fake drive, urges brands to help out
Chinese e-commerce giant Alibaba Group Holding Ltd went public with a new
drive to display its determination to stamp out fake goods, urging brands to
help its anti-piracy campaign rather than trade rebukes on the issue.
•
U.S. opens investigation in Tesla
after fatal crash in Autopilot mode
A fatal accident in which the driver of a Tesla Motors Inc Model S car operat-
ing in Autopilot mode was killed in a collision with a truck has prompted an
investigation by federal highway safe
ty regulators, the U.S. government and
Tesla disclosed on Thursday.
BEFORE THE BELL
U.S. stock index futures
were little changed to slightly lower ahead of a flurry
of economic data including Markit and ISM manufacturing PMI and vehicle
sales. A prospect of further cuts in interest rates and bond-buying to support a
fractured global economy pushed
European shares
higher.
Asian markets
closed up.
Oil
prices slipped as focus on oversupply returned to center stage.
Precious metals rose, with
gold
heading for its fifth weekly gain.
Silver
breached the $19 an ounce level for the first time since September 2014, while
Platinum
marked its highest level since May 10 and
Palladium
headed for its
best week since early March
Does it all crash tomorrow now that July is here?