Good morning and what the heck is going on here? Sure, stocks dropped yesterday a fraction of a % in rising albeit limp trade, but this rout w/ precious metals (imho) is hard to understand. Futures see this worsen and they got gold -3.22% and silver -5.42% --and meanwhile they're ho-hum w/ stocks.
Maybe it's these econ stats today:
7:00 AM MBA Mortgage Index
8:15 AM ADP Employment Change
8:30 AM Trade Balance
10:00 AM Factory Orders
10:00 AM ISM Services
10:30 AM Crude Inventories
or this stuff:
Why Americans Feel Poor (In One Chart) - Narayana Kocherlakota, BV
Here's The One Tax Idea That Is Fair to All Americans - Brett Arends, MW
3 Reasons Why This Market Has Everyone Spooked - Aaron Task, Fortune
It's One Big Market Casino Created by Central Banks - Bill Gross, Janus
The Stock Market Enters a Precarious Position - Sam Ro, Yahoo Finance
Market Corrections? Why You Shouldn't Worry - Simon Moore, Forbes
The Market Outlook: A Little Too Buoyant? - Elizabeth Collins, Morningstar
Sliding Sterling Is a Long Way From a Crisis - Swaha Pattanaik, Reuters