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

A / A / A

Global Market Wrap-Up - November 13, 2012

Tuesday, November 13, 2012
Mark Hanna
U.S. stocks sold off again Tuesday in a very volatile session - while the news flow was generally quiet some sporadic rumors of a bailout coming in Spain and some key technical levels that traders watch that were hit led to a lot of lurching about. In the end the S&P 500 fell 0.4% and NASDAQ 0.7%. Microsoft (MSFT) sunk 3.2% as 23 year employee Steven Sinofsky, who oversaw the Windows operating system (and coming Windows 8 launch) exited the company.

In economic news:
  • The Treasury Department reported a deficit of $119.9 billion for October, compared with an expected shorftall of $113 billion. Outlays grew to $304 billion from around $262 billion in the same month last year while receipts rose to $184 billion from $163 billion.
Oil fell 19 cents to settle at $85.38 a barrel. Gold dropped $6.10 to end at $1,724.80 an ounce while silver fell $0.035 to $32.49.

Britain's FTSE 100 rose 0.3%, the DAX in Germany was fractionally higher and France's CAC 40 gained 0.6%.
  • Finance ministers agreed to give Greece an additional two years to meet fiscal targets attached to a second sovereign bailout, but will not release the next installment of rescue funding for at least another week.
The Shanghai Composite dropped 1.5% and Japan's Nikkei shed 0.2%.

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.