Today has been a very interesting day on the markets with mixed news. Europe and the Euro closed stronger today on positive corporate news and the US jobs report, but it is interesting that the Spanish ratings downgrade from S&P and lingering concerns over Greece had no big effect on today’s markets.
The US market opened very bullish because of the positive jobs report, but during the day the gains erased as optimism faded. The recent US trade report might have also played a role in the fading market. At the end the US markets closed around zero, precious metals, oil and other commodities were mostly green today with US Dollar being negative.
On a side note, today, 90 years ago marked the beginning of Germany’s Hyperinflation period which saw an extreme devaluation of the German Mark within a couple of months.
Tonight at 9pm (EST) the Vice Presidential Debate will be broadcasted. While we do not expect anything else then the usual political smoke screen chit-chat, Mr Ryan might have a chance to explain to the American public how Republicans want to solve the long-term fiscal challenges and debt problems the USA faces.
In the mean time take a look at the following links: