Friday, 6 Nov 2009 | Posted By:
Jeff Cox | Source: CNBC.com
Fears that the meteoric rise in stocks and commodities prices is creating another asset bubble have investors debating whether to pull back now or ride the rally until the bubble bursts next year when the Fed starts raising interest rates.
Stocks bounced around Friday as investors juggled a disappointing jobs report and some analyst upgrades. Still, all three major indexes were on track to post gains for the week.
Euro strength is far from over and the dollar could fall to an all-time low against the bullish currency, Phil Roberts, technical analyst from Barclays Capital, told CNBC.
The current market rally will stop in the next few days, a correction of at least 3 weeks will follow, but stocks will rebound and finish high in 2010, independent trader Bill McLaren said Friday.
Global stocks were mostly higher Friday ahead of the U.S. jobs report for October. But experts told CNBC they are skeptical of the current stock rally and see a bubble forming in all asset classes.
The dollar will "utterly get destroyed" and become virtually worthless, said Damon Vickers, chief investment officer of Nine Points Capital Partners on CNBC.
Stocks opened higher Thursday as a strong reading on productivity and an easing in jobless claims helped cheer investors during a choppy week of trading.
Stocks ended mixed Wednesday as a post-Fed rally fizzled. Stocks had opened higher as investors cheered some encouraging readings on the economy, then swung in about a 50 point range after the Fed's statement, before finishing narrowly mixed.
Stocks rallied Wednesday after the Fed's statement. The market had been higher before the statement as investors cheered some encouraging readings on the economy, then swung a little right after the statement before barreling higher.
Wednesday, 4 Nov 2009 | Posted By:
Jeff Cox | Source: CNBC.com
As more nervousness creeps into the US stock market, investors are sharpening their look at overseas opportunities where growth is outpacing the US recovery.
Gold hit a new nominal high near $1,100 an ounce on Friday, and Michael Dudas, metals and mining analyst at Jeffries & Co., thinks the precious metal has further to go... Read More
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