Early Trading Today

PayPal seems to be doing very well in its debut. The stock is currently over $40 per share.

Gold has been hit hard recently. The metal just hit a five-year low.

Gold traded down 1.5%, or $16.60, at $1,115.30 a troy ounce, a level last seen in early 2010. The precious metal dropped sharply earlier in the day, falling below $1,090 in a matter of minutes, before quickly recovering some of the losses.

I’m guessing that’s due to a belief that the Fed will raise rates soon. James Bullard, the top dog at the St. Louis Fed, said that a rate hike could come in September. He said it’s 50-50. That’s far more aggressive than the market expects.

I doubt they’ll raise rates then, but I’m not strong in that opinion. The gold market, at least, is taking it seriously.

Hold on to your hats; 25% of the S&P 500 is due to report this week. Analysts are slightly more optimistic. The projected earnings decline is now 5.3% where it had been 6.4% last week.

Posted by on July 20th, 2015 at 10:27 am


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