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Global Market Wrap-Up

Mark Hanna is a private investor and financial commentator, best known as “TraderMark” on Seeking Alpha. He holds an economics degree from the University of Michigan and operates his own website called Fund My Mutual Fund. Considering him a kindred philosophical spirit, Euro Pacific Capital has commissioned Mark to provide daily updates on global markets.
A potential government shutdown continues to hang over U.S. markets; stocks capped off a rough week and a half with the S&P 500 down 0.4% and the NASDAQ 0.15%. The S&P 500 has been down every session but once since the Fed meeting a week ago Wednesday. Also hovering...
U.S. stocks bounced after a 5 day selloff with the S&P 500 up 0.35% and the NASDAQ 0.70%. It continues to be a volatile market intraday as the now familiar yearly budget gridlock in D.C. looms. Ten year Treasuries fell, pushing yields up to 2.66% In economic news:...
U.S. stocks posted their 5th day of losses, for the first time in 2013. While the pullback has not been severe the lack of buying pressure certainly is something relatively rare for the year. The S&P 500 fell 0.3% and the NASDAQ 0.2%. Ten year yields continue to fall,...
U.S. stocks fell for the third day as the sugar high of continued QE, with no reduction from last Wednesday has been completely reversed. Some Fed officials were trotted out to threaten the reduction of QE later in the year, but we've seen this song and dance before. The S...
U.S. stocks pulled back from extreme overbought levels this past Wednesday with the S&P 500 down 0.7% and the NASDAQ 0.4%. There were some Fed officials sent out to say some tapering might occur later this year, but at this point with what happened Wednesday the Fed's...
U.S. stocks were mixed Thursday after the large rally yesterday from the surprise non tapering of the Federal Reserve. The S&P 500 fell 0.18% while the NASDAQ gained 0.15%; Treasury yields on the 10 year bounced a bit to 2.76%. There were 2 economic reports today and both...
The Fed surprised almost all of Wall Street (but not Peter) as it announced no QE reduction today in its press release. The Federal Reserve remains on a war footing with policies in place that most would associate with a depression. So they obviously know something the...
U.S. stocks continued their September rally as investors await tomorrow's Federal Reserve meeting and news conference. Expectations are generally for a reduction in quantitative easing from a massive $85B a month to a still massive $75B a month. The S&P 500 gained 0.4%...

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