Daily Data Flow: Stocks Fall; Yen Rises; Consumer Sentiment Slips

Daily Data Flow

Stocks Fall on IMF Outlook, Warning on Stimulus Exit (Bloomberg)

Stocks fell today, following yesterday’s rally in the S&P 500, as the International Monetary Fund shredded its 2014 outlook for America and urged the central bank to manage its exit from stimulus plans. “We’re hitting a period of higher volatility,” Bryan Novak, Chicago-based Astor Asset Management LLC, said. “Interest rates need to rise, but while you have an economic picture, where growth is around 2 percent, you don’t have a lot margin of error to work with in terms of interest rates. That has a meaningful impact on the futility of the economy at this point. The market is going to focus heavily on every word that the Fed says.”

Yen Rises Broadly as Volatile Stocks Make Investors Nervous (Reuters)

The yen has hit a target for best weekly performance, a goal it hasn’t hit since early 2010, as volatile stock markets had investors unwinding bets against the yen. “The yen has proved to be investors’ go-to safe haven to ride out global stock market volatility,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington D.C. “The uncertainty has prompted investors to exit recently overcrowded plays like betting on the dollar and Japan’s Nikkei stock index and against the yen,” he said. “With that play now in reverse, the yen has steadily been squeezed higher.”

Fading Optimism Spurs Consumer Sentiment Retreat (CNBC)

According to a survey released today, consumer sentiment fell this month after reaching a six-year high in May, as household optimism about employment and housing faded slightly. Specifically, consumer confidence fell in lower-income households, which were, according to survey director Richard Curtin, “more likely to report worsening overall financial prospects” than higher-income households. Curtin also added that “all consumers were less optimistic about job prospects in early June, expected smaller gains in the value of their homes and judged the probability of stock price increases somewhat below last month’s level.”

Exclusive  A Bet on a Tech Sleeper

Like This Article?
Now Get Mark's FREE Special Report:
3 Dividend Plays with Sky-High Returns

This newly-released report by a top-20 living economist details three investments that are your best bets for income and appreciation for the rest of the year and beyond.

Get Access to the Report, 100% FREE


img
previous article

Hog producer Smithfield Foods Inc (SFD.N), which recently accepted a $4.7- billion buyout offer from China's Shuanghui International, posted a 63 percent drop in net profit as its exports to China and Russia fell due to concerns about a drug it uses to produce lean meat.

PREMIUM SERVICES FOR INVESTORS

Dr. Mark Skousen

Named one of the "Top 20 Living Economists," Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books.

Product Details

LEARN MORE HERE

Bryan Perry

A former Wall Street financial advisor with three decades' experience, Bryan Perry focuses his efforts on high-yield income investing and quick-hitting options plays.

Product Details

LEARN MORE HERE

Jim Woods

Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
numerous investment websites, Jim is the editor of:

Product Details

LEARN MORE HERE

Bob Carlson

Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.

Product Details

LEARN MORE HERE

Mike Turner

Mike Turner’s financial, mathematical, computer science and engineering background serves as the foundation for his disciplined, rules-based approach to trading. Mike’s three services include:

Product Details

LEARN MORE HERE

Hilary Kramer

Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. Since 2010, Hilary's financial publications have provided stock analysis and investment advice to her subscribers:

Product Details

LEARN MORE HERE

DividendInvestor.com

Used by financial advisors and individual investors all over the world, DividendInvestor.com is the premier provider and one-stop shop for dividend information and research.

Product Details

Popular tools include our proprietary Dividend Calendar, Dividend Calculator, Dividend Score Card, and many more.

LEARN MORE HERE