Economic Data Lowers Stocks; Gold, Silver Rise; Egyptian Oilfields Remain Open but Alert

Daily Data Flow

Economic Data Lowers Stocks (Bloomberg)

Continued concern over when the Federal Reserve will reduce its stimulus combined with bond yield-raising economic data to give U.S. stocks their biggest one-day drop since June. “With weaker earnings, higher interest rates and geopolitical concerns, risk assets like stocks don’t do well in that type of environment,” Jim Russell, the senior equity strategist for U.S. Bank Wealth Management, said. “The jobless claims numbers were sufficiently strong that taper fears are probably front and center in terms of display today.”

Gold, Silver Rise (CNBC)

An unsure picture of the U.S. economic recovery and weakness in the dollar led gold to rise more than two percent today to a two-month high. Silver soared for a seventh straight session, while platinum and palladium also increased in value. “Today’s move was mostly driven by technicals, and that spooked the bearish bets out of the gold market,” said Axel Merk, chief investment officer at California-based Merk Funds.

Egyptian Oilfields Remain Open but Alert (Reuters)

In the face of unrest across the country, the operations of major oil companies in Egypt are, for now, continuing normally. “Operations and production are unaffected. We are monitoring the security situation in the (urban) areas where we have offices. All our people are safe and accounted for,” a BP spokesman said.

Exclusive  To Achieve Financial Freedom, Should You Diversify or Concentrate?

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

Today's Skousen CAFÉ features a guest column from investment writer Dennis Miller, while I am attending and speaking at the San Francisco MoneyShow. His column on Big Brother spending by the Federal government is right on target, and very much in keeping with our theme at next year's www.freedomfest.com, "Is Big Brother Here?" Also, be sure to read my "You Blew It!" column, which I wrote before leaving for the show. -- Mark Skousen My grandfath

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

  • Forecasts & Strategies
  • Home Run Trader
  • Fast Money Alert
  • Five Star Trader
  • TNT Trader
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

  • Cash Machine
  • Premium Income (exclusively for subscribers of Cash Machine)
  • Quick Income Trader
  • Breakout Profits Alert
  • Hi-Tech Trader
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

  • Successful Investing
  • Intelligence Report
  • Bullseye Stock Trader
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

  • Retirement Watch
  • Retirement Watch Spotlight Series
  • Lifetime Retirement Protection Program
LEARN MORE HERE

Jon Johnson

Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services:

Product Details

  • Investment House Daily
  • Technical Traders Alert
  • Success Trading Group
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.

  • Dividend Investor
LEARN MORE HERE