Stock traders have put a positive spin on the Euro Bank stress tests
Just a heads up as stock traders have put a positive spin on the Euro Bank stress tests. Currently, the Dow is 90 points with financial equities having a pretty good day.
Gold hit a new high this morning of $1254.50 on European currency and equity concerns
Gold hit a new high this morning of $1254.50 on European currency and equity concerns. Fed Chair Bernanke hit the wire as well, trying to assure the markets that the US will avoid slipping back into recession. Doesn’t seem as many are listening given another round of early stock gains followed by selling into strength. Stock bulls are doing their best to defend the 1040 level in S&P’s (currently 1046) but need to move higher or will most likely fall under their own weight with a new target of 980.