Asian markets slid today and Europe is trading down too, but U.S seems to open up today. This week will be very interesting. I think many investors are nervous now, as day traders love this volatile markets. It was a nice move for day traders on friday.
Not a good week for stocks last week. S&P had its worst week since 2012. Dow fell 318 points alone on friday. Will this sell off continue? A lot of earnings report are coming out this month. Janet Yellen is the next Fed chairman from february 01, but the next BIG news is the FOMC statement on Wednesday at 10:330am. Pay attention to this.
The U.S montly trade deficit was at its lowest in four years and that is because of the American shale revolution. That`s good news from a new report I was reading this weekend. This is good news for the growth, jobs and for the country.
Libya is in disarray and Iran and Iraq are thumbing their noses at Saudi Arabia by pledging to break OPEC’s 3 million bpd quota. This is bad news for OPEC, and if this is the new trend, this is very good news for America.
People are scared now before the FOMC statement on Wednesday. That`s why we see the sell-off now. What a power they have. Everything they say will move the markets, so what are the news on Wednesday? What about the tapering?
Safe-heaven currencies like Swiss franc and Yen slid today as the dollar surged. If the Fed starts to reduce its monetary stimulus this week, the U.S dollar will continue to rise. That will hit the Emerging markets currencies.
Reports today: New Home Sales at 10:00am.
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