<img src="/images/nav_ra.png" />

A / A / A

Global Market Wrap-Up - December 4, 2012

Tuesday, December 4, 2012
Mark Hanna
U.S. stocks sold off a bit in a quiet session as investors continued to stay in a "wait and see" attitude regarding the fiscal cliff. Later this week will come more economic data so for the day most were content to sit on their hands. Coming Wednesday with will be the ADP employment report and ISM non manufacturing while Friday comes the national employment data for November. Both the S&P 500 and NASDAQ dropped 0.2%.

Oil prices for January delivery declined 59 cents to $88.50 a barrel. Gold fell 1.5% to $1,695.80, falling below $1,700 for the first time since early September. Silver dropped 2.8% to $32.81.

British and German shares were fractionally lower while France gained 0.4%.
  • In Europe, finance ministers failed to reach an accord on the framework necessary to form a single banking supervisor. An agreement is needed in order to pave the way for direct capital injections into the region's troubled banks as well as ensuring effective supervision of Europe's financial sector. EU finance ministers will now reconvene on Dec. 12 in an attempt to stick to a year-end deadline that was set in June.
China gained 0.8% while Japan dropped 0.3%.  

Check the background of our investment professionals on FINRA’s BrokerCheck.

Investing in foreign securities involves risks, such as currency fluctuation, political risk, economic changes, and market risks. Precious metals and commodities in general are volatile, speculative, and high-risk investments. As with all investments, an investor should carefully consider his investment objectives and risk tolerance as well as any fees and/or expenses associated with such an investment before investing. International investing may not be suitable for all investors.

Dividend yields change as stock prices change, and companies may change or cancel dividend payments in the future. The fluctuation of foreign currency exchange rates will impact your investment returns. Past performance does not guarantee future returns, investments may increase or decrease in value and you may lose money.

Our investment strategies are based partially on Peter Schiff's personal economic forecasts which may not occur. His views are outside of the mainstream of current economic thought. Investors should carefully consider these facts before implementing our strategy.