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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.
Better than expected preliminary purchasing managers data out of Europe and China helped U.S. indexes bounce back on Thursday. This despite a 3 hour data outage on the NASDAQ that left it frozen. The10 year Treasury yield fell slightly to 2.89%.
  • Initial jobless...
U.S. markets experienced extreme volatility Wednesday as the release of minutes from the last Federal Reserve meeting unleashed spastic bouts of volatility. Stocks first sold off, then rallied sharply, before experiencing a sharp last hour selloff. At the end of the day the S...
A very oversold U.S market bounced some Tuesday as most of the investing class sat on their hands awaiting the micro analysis of every word in tomorrow's release of minutes from the Federal Reserve meeting. The S&P 500 added 0.4% and the NASDAQ 0.7%. U.S. Treasury yields...
The correction of the past week continued for U.S. stocks as the S&P 500 fell 0.6% and NASDAQ 0.4%; the broader Russell 2000 fell 1.1%. This is the first 4 day losing streak of the year in this very unusual 2013. Stocks are extremely oversold so a snap back rally can occur...
U.S. stocks continued their recent correction Friday as stocks fell again despite oversold conditions in the near term. The S&P 500 dropped 0.3% and the NASDAQ 0.1%. For the week the S&P 500 fell 2.1% and the NASDAQ 1.6%. Ten yield Treasuries continued to fall,...
U.S. stocks sold off sharply Thursday as bad data points from tech bellweather Cisco Systems and retail giant Walmart conspired to worry some investors. Ironically this came at the same time weekly jobless claims fell again, which had investors worried about a pullback in...
U.S. stocks continued their slow motion selloff Wednesday as light volume continued. There were some high profile warnings from companies like Macy's (M) and TripAdvisor (TRIP) during the regular session; after the close Cisco Systems (CSCO) also warned, sending the stock down...
U.S. stocks remain in a range they have been in for a month. Today the mood was up as a Fed official came out and offered words that the market read as meaning QE tapering won't be happening as soon as September. The market remains hostage to the constant rumblings of Fed...