While the Dow Jones Industrial Average
The main Asian indexes traded lower overnight, with their European counterparts following suit so far today. At last glance, the FTSE 100 index was down 0.9% on the day. It's a relatively quiet day for economic data, with announcements on two measures out this morning. At 8:30 a.m. EDT, we have an update on the trade deficit, followed by news on wholesale inventories at 10 a.m. EDT. Neither measure is expected to move the needle for investors, who will likely shift focus to Europe after Ben Bernanke failed to deliver the stimulus comments many expected yesterday.
Let's take a look at how futures markets were moving in the past hour.
Gain / Loss
Gain / Loss %
|Dow Jones Industrial Average||-60||-0.48%||12,419|
Source: Yahoo! Finance.
Companies to Watch
Another consumer stock that tends to perform well as consumers tighten their budgets is retail giant Wal-Mart. Unlike its fast food cousin, its price has risen more than 10% on the year.
Bernanke squashes gold bugs
One group that tends to benefit in times of economic turbulence is gold investors. One thesis for investing in gold is a belief in the precious metal as a store of value. When governments implement quantitative easing programs, the fiat money-to-gold ratio increases and, in theory, should support dollar-denominated gold prices. However, shares of the SPDR Gold Trust ETF
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