Solid Economic Data Pulls up Stocks and the Dollar; Dollar Rises with Positive U.S. News; Oil Falls Back as Investors’ Syrian Fears Relax

Daily Data Flow

Solid Economic Data Pulls up Stocks and the Dollar (Bloomberg)

Both European and U.S. stocks rose today, following a more-positive-than-expected revision of second quarter gross domestic product (GDP) growth. Asian currencies, such as the Indian rupee and the South Korean won, and indices tracking East Asian markets also came up. “We’re back to focusing on economic data, specifically out of the U.S. and Europe, and the Fed tapering, as the market is coming around to believe the Syrian conflict poses only a short-term risk,” said Manish Singh, head of investment at Crossbridge Capital in London.

Dollar Rises with Positive U.S. News (Reuters)

The U.S. dollar hit a two-week high against the euro and a three-week high against the Japanese yen. Investors responded positively to revised second quarter GDP data, as well as rising U.S. Treasury yields and falling U.S. jobless claims. “This is a good report for those who expect the Fed to taper in September,” said Vassili Serebriakov, currency strategist at BNP Paribas in New York. “One of the key concerns that the Fed has voiced recently has been the dichotomy between firm employment and soft GDP growth. This should ease some of those concerns,” he said.


Oil Falls Back as Investors’ Syrian Fears Relax
(Yahoo!)
Oil prices fell as crude oil stockpiles countered expectations by rising by three million barrels for the week ending Aug. 23. Also, a stronger dollar rendered oil priced in dollars more expensive and less attractive. Thursday’s market strongly corrected from Wednesday’s overreaction to prospective U.S. and European involvement in Syria. “Were the West to launch only a limited military strike against the Syrian regime, it is likely that oil prices would then fall again just as quickly again as they increased,” Commerzbank of Frankfurt said.

Exclusive  Are Bitcoin and Cryptocurrencies for Real?

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

"I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character."
-- Martin Luther King, Jr. (1963) Fifty years ago, Martin Luther King, Jr., gave a famous sermon at the Lincoln Memorial. I've read this sermon several times and once organized a one-day conference where actors read famous speeches, such as the Gettysburg Address and King’s “I Have a Dream” s

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