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Wednesday's Recap: Adam In CNBC: Stocks close mostly higher after Fed's Beige Book; earnings beat, energy leads
Wednesday, October 19, 2016 2:35pm EST Stocks closed mostly higher on Wednesday, helped by better-than-expected earnings and rising oil prices, following the release of key economic data from the Federal Reserve. The Dow Jones industrial average rose about 40 points, with Goldman Sachs contributing the most gains. The S&P 500 gained 0.2 percent, with energy…
Adam Sarhan Reuters Quote: Gold/S&P Ratio Rises to 1.6
“If we are going to enter another period of massive
economic slowdown, one would have to expect risk assets and the
S&P to underperform gold as well,” said Adam Sarhan, CEO of
Sarhan Capital, a consultant to institutional investors.
The anticipation of dire economic events, such as the
Standard & Poor’s downgrade on U.S. Treasury debt last Friday,
default by a euro zone country or problems in the European
banking sector, prompted investors to favor gold at the expense
of riskier assets.
“Right now, with the dollar and euro in trouble — people
are talking about the euro failing. If you have a ‘black swan’
type event with a major currency, people are going to flock
toward gold,” said Sarhan, using a term for a low-probability
economic shock that catches markets unprepared.CNBC: Rally loses steam as close approaches; Dow halves gains
U.S. stocks advanced in choppy trade Thursday, attempting to shake off pressure from further decline in oil prices, as investors awaited a possible Fed rate hike next week. “What we really need is to see a market that can trade higher agnostic to oil prices,” said Art Hogan, chief market strategist at Wunderlich Securities. “Breaking…
Adam Sarhan Reuters Quote: US STOCKS-Wall St hits records in broad, thinly traded rally
* Markets on track for positive week * Trading volume likely to be light after holiday * Biotech stocks rise, but still lower on week * Indexes up: Dow 0.3 pct, S&P 0.4 pct, Nasdaq 0.6 pct (Updates to morning trading) By Ryan Vlastelica NEW YORK, Dec 26 (Reuters) – U.S. stocks rose on Friday,…
Adam Sarhan Reuters Quote: COMMODITIES-Prices tumble after talk of hedge fund in trouble
Wed Feb 20, 2013 1:20pm EST (Writes through with possible hedge fund liquidation and other details, quotes; adds NEW YORK to dateline, second byline) * Rumor of commodity fund liquidation sparks broad selloff * Gold at 6-month low, silver down most in 2 months * Copper hits 1-month bottom * Gasoline, US crude oil down…
Friday Recap: Sarhan in Reuters: US STOCKS-Financial stocks lift Wall Street after strong results
* JPMorgan, Citi beat revenue estimates * Financials top gainers among S&P sectors * Dollar rises 0.35 pct, gold falls * Indexes up: Dow 0.75 pct, S&P 0.57 pct, Nasdaq 0.63 pct (Updates to open) By Yashaswini Swamynathan Oct 14 10am EST Wall Street was higher on Friday as better-than-expected results from JPMorgan and Citigroup…
