Latest Market News
The National Association of Realtors reported Monday that U.S. pending home sales fell 1.1% in June, disappointing expectations for a 0.5% gain. The report fueled concerns that the U.S. housing sector may be battling headwinds, but ultimately took a backseat to more significant economic data still to come.
The two primary economic reports on investors’ radars for the week are second-quarter GDP data due Wednesday and non-farm payrolls figures due Friday. Both releases are set to have a heavy impact on market sentiment as traders examine the data to assess the strength of the U.S. economy and the outlook for when the Federal Reserve is likely to begin hiking interest rates.
The Federal Reserve’s Open Market Committee meeting takes place Tuesday and Wednesday is expected to result in few changes to the near-term direction of U.S. monetary policy. Earlier this month, Federal Reserve Chairwoman Janet Yellen said the central bank could begin hiking rates sooner than previously expected if conditions in the U.S. labor market improved considerably.
While geopolitical tensions have fallen into the background Monday, developments in Ukraine and the Middle East are still a major risk factor in the marketplace. The Israeli government and Gaza’s Hamas rulers observed a 12-hour truce on Saturday but were unable to agree to extend the cease-fire on Sunday. Meanwhile, the European Union is considering further sanctions against Russia following its complicity in the downing of a Malaysian jet airliner two weeks ago.
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Market News Archive
This week, Brian takes viewers back to basics with an explanation of how the various inflation and the specific differences between the consumer price index and the personal consumption expenditures index measures. Plus, Mike Getlin, CEO of Merit Gold joins...watch more
Gold Standard with Brian Baker
On today's show, Brian recaps what moved gold and silver prices on Monday. Plus, John Embry on the shocking reason why gold may quickly hit $2,000 per ounce.watch more
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