CLOSING BELL: September 17th: DJIA: 13,553.10 | DOWN 40.27 | -0.30%
OIL: $96.53, DOWN 2.47, -2.49%
GOLD: $1,763.70, DOWN 9.00, -0.51%
GASOLINE (US Avg): $3.862, DOWN .009
By Ryan Vlastelica (Reuters) – Stocks in the United States and Europe on Monday gave back some of last week’s huge gains as investors began to question whether recent action by both the European Central Bank and Federal Reserve would be enough to revive global economic growth.
In the euro zone, Spanish and Italian bond yields rose while German bond yields fell. But the euro slipped from its near four-month highs reached last week in the wake of recent decisions by both the ECB and the Fed to effectively become open-ended lenders of last resort.
Commodity prices fell, with gold giving back some of last week’s gains, while crude oil prices tumbled about 3 percent.
“Everyone is still reeling from last week – that is part of it,” said Stephen Massocca, managing director at Wedbush Morgan in San Francisco. “But on the other hand, it starts to become increasingly more difficult to pull the trigger on buy orders at these valuations.”
Read the full story at Reuters [here]
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