Since we all know what happened yesterday what we got this morning is stock index futures -0.89% and metals +1.49% --and energies are up +1.95%! So now we know where the money is running to.
Ah. For those that may have tuned in late, yesterday's trade saw stocks taking a serious hit; the NASDAQ fell -2.4% and the S&P dropped -1.5%, all in rising volume. IBD even says the outlook is no longer "confirmed uptrend". Gold and silver have now climbed tp $1,213.65 and $17.32 respectively and today's claims day (Initial and Continuing Claims at opening bell). So what or who do we blame the shift on-- war in Yemen? yesterday's durables at -1.4%? More reasons:
GLOBAL MARKETS-Oil surges on Yemen air strikes, stocks tumble Reuters Africa - 19 minutes ago LONDON, March 26 (Reuters) - Crude prices rose as much as 6 percent on Thursday after Saudi Arabia and its allies launched air strikes on Yemen, pushing shares lower in Europe, the Middle East and Asia and lifting oil producers' currencies.
Oil stockpiled by Iran awaits sanctions' end to hit marketChina a big buyer of Yemen oil as export risks rise
For the Fed, it's goodbye jobless woes, hello inflation quandary
With China, U.S. Risks Epic Econ. Blunder - Evans-Pritchard, The Telegraph
Ignore 'Rigged' Market Theories @Your Peril - John Crudele, New York Post
Silly Explanations From Market's Explainers - Barry Ritholtz, Bloomberg