Home Commodities Wall Street Shares Dipped Tuesday, Gold Rallies on Recession Fear

Wall Street Shares Dipped Tuesday, Gold Rallies on Recession Fear



Wall Street dipped Tuesday, weighed down by financial stocks as a deepening of the Treasury yield curve inversion raised recession worries again, and uncertainty over the progress in trade negotiations between the United States and China.

A deepening of the inversion in the yield curve between the 2-year and 10-year US Treasuries underscored worries about a weakening global economy driving Dec gold to 6 year highs Vs a flat USD.

The S&P 500 has lost nearly 4% MTD on worries over the impact of the intensifying US-China trade war on the slowing global economy and corporate profits, along with uncertainty around the pace of. interest rate cuts by the Fed.

The next FOMC meeting scheduled for mid-September and investors are gauging the strength of the economy for clues on where rates are headed but the market has priced in 1/4 bpt at 100%.

The release next week of the government’s closely watched monthly jobs report and manufacturing data will give investors factors to consider before the policy announcement.

Tuesday, the major US stock market indexes finished at: DJIA -120.93 at 25777.88, NAS Comp -26.79 at 7826.97, S&P 500 -9.22 at 2869.16

Volume: Trade on the NYSE came in at 890-M/shares exchanged

  • NAS Comp +18.0% YTD
  • S&P 500 +15.0% YTD
  • DJIA +10.5% YTD
  • Russell 2000 +8.0% YTD

HeffX-LTN’s overall technical analysis of the major US stock market indexes is Bearish to Neutral.

Stay tuned…

Previous articleBitcoin Broke Above $10,000, Looking for $10,400 Again
Next articleThe Market is Very Short Cannabis Stocks in Here
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.