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Stock Futures Fall in Pre-Maket Hours as Inflation Figures Show Unexpected Rise
Whew! Shortly after 8:30 AM when the figures came out, investors began selling everything on what had started out as a sunny day (with Dow futures positive by around 150).
Among the things being sold indiscriminately shortly after the release were: equities, bonds, gold, energy, copper, wheat. (I’m still checking on peanuts). The Dollar rose on expectations of higher U.S. rates.
hank & MFO Members: In my opinion, its a case is the glass half empty or half full. Higher consumer prices in January, didn’t alter the overall picture on inflation. The increase in the CPI over the past 12 months remained unchanged at 2.1%. Futures have somewhat recovered, and I wouldn't be at all surprised to see the market in the green at the end of the day. Regards, Ted Regards, Tedt
Actually, I was more encouraged by gold’s rebound later in the morning. More or less by default (thinking equities are expensive) I’ve come to have a higher exposure to the precious metals than in the past. OPGSX, PRPFX, and PRAFX of course. Also, GLD’s the top holding in QVOPX which I added recently. And I suspect (but can’t confirm) that RPGAX holds a bit through its stake in a hedge fund.
Comments
Regards,
Ted
Regards,
Tedt
Actually, I was more encouraged by gold’s rebound later in the morning. More or less by default (thinking equities are expensive) I’ve come to have a higher exposure to the precious metals than in the past. OPGSX, PRPFX, and PRAFX of course. Also, GLD’s the top holding in QVOPX which I added recently. And I suspect (but can’t confirm) that RPGAX holds a bit through its stake in a hedge fund.
Regards