Stocks Rise as Investors Continue to Speculate on Tapering; Housing Decline Lowers Dollar; Improving China Data Boosts Gold

Daily Data Flow

Stocks Rise as Investors Continue to Speculate on Tapering (Bloomberg)

As of Friday afternoon, stocks were on pace to finish in the black, building on the previous day’s gains. This occurred as investors continued to speculate on when the Federal Reserve will begin tapering its stimulus and new data was released showing a July drop in home sales. “The macro picture is very important,” Jim Russell, the senior equity strategist for U.S. Bank Wealth Management, said. “Investors are trying to figure out how markets will respond to rising rates and what it will mean for the consumers and the business climate. This weekend’s meeting in Jackson Hole is a focus although we don’t expect big announcements,” he continued, referring to an imminent Fed meeting in Wyoming.

Housing Decline Lowers Dollar (Reuters)

A sharp decline in U.S. new home sales has caused investors to doubt that the Federal Reserve will begin tapering soon, as the Fed has decided it will taper only as soon as the economy is healthy enough. Consequently, investors left the dollar, paving the way for the American currency to drop against its major rivals, the euro and the yen.

Improving China Data Boosts Gold (CNBC)

In another case demonstrating the widespread interconnectedness of different segments of the market, bullish Purchasing Managers’ Index (PMI) data from China triggered a rise in gold. However, gold’s gains may not last, as the market is still experiencing aftershocks from the analysis of the Federal Reserve’s latest release of meeting minutes.

Exclusive  President Biden's Proposed Federal Gas Tax Cut Analyzed for EWTN News Nightly
share on:

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

share on:


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

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

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
  • High Velocity Options
  • Intelligence Report
  • Bullseye Stock Trader
  • Eagle Eye Opener

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

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
  • Stock of the Week
  • Technical Traders Alert
  • Rapid Profits Stock Trader

Used by financial advisors and individual investors all over the world, 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