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

A / A / A

Global Market Wrap-Up - January 23, 2013

Wednesday, January 23, 2013
By: 
Mark Hanna
U.S. stocks continued to grind up in the absence of economic news Wednesday as earnings data from IBM helped push up the Dow, and Google helped the NASDAQ. However, after market close Apple reported numbers that disappointed investors sending the stock down some 10% which should impact the markets materially tomorrow. For the day the S&P 500 gained 0.15% and the NASDAQ 0.3%.
  • The market cheered a vote in the House of Representatives to suspend the U.S. debt ceiling through May 19, as anything that "kicks the can" is celebrated by markets.
Crude oil fell 1.5% to $95.23, gold fell 0.4% to $1686.70, while silver gained 0.8% to $32.44.

The FTSE 100 gained 0.15%, the German DAX 0.3%, while the French CAC-40 fell 0.4%.
  • U.K. unemployment fell by 37,000 people in the three months to the end of November, marking 10 months of consecutive declines.
  • Minutes from the Bank of England's January meeting showed the majority of members on the rate-setting committee felt that further stimulus was unjustified.
Japan's Nikkei slumped 2.1% as the yen bounced for a second session, while China's Shanghai gained 0.25%.

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.