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Dollar Off Lows,Stocks Weaker Before Fed Speakers, Auctions
Investors look hesitant to keep the rally going. The S&P 500 has climbed 5.5% on six straight days of gains and the Dow hit a 13-month yesterday at 10,226, but Tuesday’s future market shows both markets retrenching. Meanwhile, stocks in Asia and Europe are all modestly higher.rnrnThough Tuesday offers no major economic data, there’s plenty going on markets to keep headlines active and investors busy. Just yesterday the US dollar fell to a 15-month low and gold topped the $1,100 mark to hit a new record high.
Treasury Auctions, Fed Speakers, Day Off, Slow Data Calendar
The week ahead is extremely light on new data, with virtually nothing from the US hitting markets until the jobless claims report on Thursday morning. Coupled with the labor data are two reports on the nation’s debt, the budget gap and the trade deficit ― both are which are expected to be rising. rnrnThat’s not to say it will be a quiet week in the markets. India’s central bank purchased 200 tonnes of gold from the IMF last week, sending prices of the precious metal past $1,100 per ounce for the first time ever. The quantity of the purchase itself
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