At 9:15 a.m. ET futures are modestly lower and the price of oil per barrel is up. The market is poised to open modestly lower.
Investors are a little spooked this morning and are seeking 'safe havens' in gold. European banks are under some pressure and when banks are under pressure investors run for cover.
CNN: Stocks: 5 things to know before the open by Alanna Petroff
They're selling stocks and buying gold. Prices for the shiny metal have surged by 29% since the start of the year as investors seek out a safe-haven asset.
2 comments:
Oil went back under $40 a bl. for a brief moment. Gas prices locally Southern NJ) now falling in the low $1.80s range going down to $1.50 or below by Oct. Here in NJ somewhere along the ride down the State will probably add a new 23 cent a gal. gas tax hike because the politicians have essentially looted the Hiway funding authority and buried it in huge debt the way they do everything these days. Then they retire take their HUGE pensions and benefits ( also buried in HUGE debt.) and retire to Fla. where they pay no taxes on any of it. Disgraceful, but S.O.P. for NJ's political establishment.
I don't think Jersey or New York will ever get out from the weight of corrupt politicians.
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