Daily Data Flow: Stocks Tumble, Dollar Hits Two-Week High; Jobless Claims Rise

Daily Data Flow

Stocks Tumble Along with Bonds as Gold Slides (Bloomberg)

Stocks plummeted today, with the global equities benchmark index sinking the most in 21 months, and bonds fell around the world after the Federal Reserve said that it may phase out its stimulus and China’s cash crunch worsened. Gold led commodities lower. “It’s a knee-jerk downward reaction because everyone is afraid that if you’re taking the punch bowl away that must be bad for markets,” Phillip Orlando, the New York-based chief equity strategist at Federated Investors, said. “The market is choosing to ignore the good news embedded in the Fed’s comments. All it’s looking at is the reduction of the accommodation.”

Dollar Hits Two-Week High on Fed Outlook (Reuters)

The dollar flew to two-week highs against major currencies today and looked pepped to further its gains after the Federal Reserve indicated that it would begin withdrawing its stimulus programs as the economy improves. “To the extent that (Quantitative Easing, or QE) represented a drag on the currency, I think that the prospect of less QE (and) higher interest rates is something that should help the dollar, particularly in an environment where some other central banks are still moving in the other direction,” said Robert Lynch, senior currency strategist at HSBC in New York.

Jobless Claims Rise Amid Moderate Growth Rate (CNBC)

Unemployment benefit claims rose more than expected for Americans last week, but the rise was still not enough to signal a shift from the steady pace of job growth. Specifically, claims for state unemployment benefits increased 18,000 to a seasonally adjusted 354,000, according to the Labor Department. But economists polled by Reuters expected first-time applications to rise to 340,000 last week.

Exclusive  Global Stock Investor Hotline 12

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

It’s official; U.S. Federal Reserve Chairman Ben Bernanke told reporters yesterday that the government’s quantitative-easing stimulus program would end by mid-2014.

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