Gold faces a move lower if U.S. economic data due this week comes in strong. An improving economy will hurt the price of gold.
45 years ago Buzz Aldrin walked on the moon. Aldrin has higher space exploration sights, Mars. Too bad our President does not share this vision. The Space Race of the 1960s highlighted in The Right Stuff spurred huge innovation and the technology boom. Hint for the President: we need another space race.
Russian President is risking becoming the outcast of the world for his stance on the shooting down of Flight MH17.
China reported Q2 GDP grew at 7.5% versus estimates of 7.4%. Good news. However, the Asian markets barely moved.
Stocks in Europe are weaker today on the German ZEW Survey that came in weaker and Banco Espirito Santo hit a new low.
Bloomberg this morning reports that R.V. and boar sales are on the rise. These sales reflect consumer willingness to spend discretionary dollars. Ergo, confidence is on the rise in the U.S. economy.
This morning there is a story out of China that Apple’s (AAPL) iPhone is considered a national security threat since the phone can track and time stamp user locations. The article went on to further state that assumptions could be made through tracking to how the economy is fairing in China. This will be a problem for Apple as it is counting on sales in China to drive future growth.
There is blood in the street this morning as S&P 500 futures are down almost -1%. The causes? First, worries about Portugal’s largest lender, Banco Espirito Santo. Second, lower trade numbers from China.