If you haven't been paying attention to the gold (NYMEX:GC.Z16.E) market, you may have missed one of the most interesting moves of the year. As all the major indices have been trending lower gold has been doing just the reverse.
Here are the three positive indicators I see.
Continue reading "Three Indicators That Say Gold Is Headed Higher"
Due to drug pricing controversies, there has been much concern about how the outcome of the upcoming election will affect pharmaceutical stocks. Dr. Len Yaffe of Stoc*Doc Partners sheds light on the issues in this analysis of drug price negotiation policy, and focuses in on one California ballot proposition that aims to rein in costs.
One issue of focus in the election rhetoric is Medicare drug price negotiation, which is specifically precluded in the Medicare Modernization Act of 2003. Furthermore, a noninterference provision was included: Continue reading "Why The Election Is Not As Relevant To Drug Stocks As You Might Believe"
Hello MarketClub members everywhere. Stocks have given back earlier gains after the Federal Bureau of Investigation announced it is investigating new emails related to Democratic nominee Hillary Clinton. The market's reaction was swift dropping -.50% across the three main indexes.
In other news today, the U.S. economy grew at an annualized rate of 2.9 percent in the third quarter as reported by the Commerce Department. The 2.9 percent clip marked the fastest economic growth in two years. Economists had forecasted that the GDP would rise at a 2.5 percent annual rate in the third quarter.
Despite the moderation in consumer spending, the third-quarter rise in growth could help dispel any lingering fears the economy was at risk of stalling. Over the first half of the year, growth had averaged just 1.1 percent.
Key levels to watch this week: Continue reading "Stocks Turn Lower After FBI Announcement"
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We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Gold futures in the December contract settled last Friday in New York at 1,255 an ounce while currently trading at 1,267 slightly higher for the trading week as gold remains relatively nonvolatile at the current time. Presently I am sitting on the sidelines as I’m not involved in any of the precious metals as prices are stuck in a 3 week sideways consolidation pattern. The U.S dollar is now hitting a 8 month high which is certainly not bullish the precious metals as it looks to me that the dollar will try to touch 100 in the coming weeks. I still believe that many of these markets will go sideways until the U.S election is finished which is still around 3 weeks away so be patient as there are still very few trends except in the grain market which is where my focus is at present. Rumors are circulating that the Federal Reserve might raise interest rates in the month of December and that is why the U.S dollar continues to move higher keeping a lid on many commodity prices here in the short-term. However, we have seen this story before.
TREND: LOWER
CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap With Mike Seery"
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