Author Archives: Jim Sutliff

Fitch May Downgrade France –

Fitch Ratings indicated that they may downgrade the sovereign debt of seven European nations.  France is one of the European nations facing a downgrade from Fitch.  The six other nations are Belgium, Cyprus, Ireland, Italy, Slovenia, and Spain. To read a related … Continue reading

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Euro Trades Lower –

 The Euro fell on news that Moody’s is considering a downgrade of European Union sovereign debt.  The inability to end the debt crisis is one factor in the Moody’s decision.  In currency trading, the Euro fell to $1.3184 which is the lowest mark … Continue reading

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Asia Markets Fall; Gold Rises –

Stock markets across Asia fell with Japan’s Nikkei dropping 1.6% and Korea’s Kospi Composite falling 1.9%.  New Zealand and Australian markets were also lower in trading.  European debt crisis concerns were the driving force in the markets.  The Euro fell to $1.3345 … Continue reading

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Federal Reserve QE3 –

The Federal Reserve may provide another round of quantitative easing.  The breakdown of the budget negotiations between Republicans and Democrats are one factor that could lead to QE3.  Quantitative easing may lower long term interest rates and help with the recovery of the housing … Continue reading

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Oil Climbs Over $100 –

Oil climbed over $100 a barrel in early trading on Wednesday for the first time since July 26th.  Oil has risen on positive economic figures such as industrial production and October retail sales.  However, the strength of the Dollar may … Continue reading

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Economic News Sends Gold Higher –

Gold broke the $1,760 an ounce mark in trading this week.  The precious metal rose on the possibility of slower domestic economic growth and another round of monetary stimulus.  Recently, Federal Reserve Chairman Ben Bernanke indicated that additional monetary stimulus may be … Continue reading

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Greek Referendum Sends Stocks Lower –

The Dow Jones started to rebound after falling more than 300 points.  Stocks fell after Greek Prime Minister George Papandreou called for a referendum on the European Union bailout plan.  Currently, the Dow Jones is down slighlty less than 200 points in afternoon trading. To … Continue reading

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Crude Ends Week Lower –

Crude oil ended the week with traders taking gains and sending crude prices lower for the day.  Crude oil fell to $93.32 a barrel after gaining almost 7% since October 21st. A decline in Japanese factory output also weighed on … Continue reading

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Dollar Falls Against Yen –

The Dollar fell in trading to a low of 75.76 Japanese Yen.  The Dollar also lost ground to the British Pound and the Euro.  Light trading volumes and the weekend meeting of European Union leaders contributed to the shift in currency allocations. To read a … Continue reading

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Euro & Gold Decline –

The Euro declined in trading after a spokesman for German Chancellor Angela Merkel indicated that the debt crisis would not be resolved in the next few weeks.  The news also sent crude oil and gold prices lower in trading on Monday. To … Continue reading

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Euro Advances –

The Euro advanced today after a pledge by German Chancellor Angela Merkel and French President Sarkozy to create a plan to recapitalize the banks and address the Greek debt load.  Traders sent the Euro 2% higher against the Dollar in afternoon trading.  The increase … Continue reading

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Crude Oil Inventory Drops –

The Department of Energy weekly report indicated that crude oil inventories fell 4.7 million barrels.  Inventories of gasoline fell 1.1 million barrels and distillates dropped 700,000 barrels.  Analysts had expected an increase of 700,000 barrels for crude and 1 million barrels … Continue reading

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Stocks Finish Quarter Down –

Stocks fell on the last day of trading for the quarter and the Dow closed 240 points down.  The Standard & Poor’s 500 index posted the largest quarterly drop since December 2008.  Conerns relating to the global economy continue to weigh on stock … Continue reading

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Federal Reserve Set To Purchase Debt –

The Federal Reserve announced that it would sell $400 billion of short term debt and purchase longer term bonds with the funds.  In addition, the Federal Reserve stated that there were significant downside risks to the economic outlook.  The warning … Continue reading

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Gasoline Demand Drops –

Crude oil declined in trading after a report from the Energy Department indicated that gasoline supplies rose almost 2 million barrels.  Crude oil inventories decreased 6.7 million barrels due to weather related shutdowns.  Distillate fuel supplies increased 1.71 million barrels … Continue reading

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