Monday, 23 Nov 2009 | Posted By:
Robin Knight | Source: CNBC.com
The asset-price rally is running out of momentum and will soon crack, which could lead to a 30 percent correction in oil and a 20 percent correction in stocks, Sean Corrigan, chief investment strategist at Diapason Commodities Management, told CNBC.com.
A holiday-shortened trading week begun with all signs pointing to a higher open for Wall Street on Monday, with the dollar weakening and gold hitting a new record high above $1,167 an ounce.
Shares of Activision Blizzard were inexpensive despite record sales of a video game and the company buying back nearly $300 million in stock in the third quarter, Barron's said on Sunday.
The dollar will continue its decline at a “gentle rate,” the Nikkei 225 should be avoided, and the food sector is well-placed to join the mining industry and move the markets, Robin Griffiths from Cazenove Capital told CNBC Monday.
Global stocks began the week in the green Monday, with gold prices hitting a new record high above $1,167 an ounce. Experts told CNBC risk aversion is coming back despite the rise in shares.
Stocks finished lower Friday, despite a last-ditch attempt to rally, as technology shares took yet another hit — this time it was weak earnings from PC maker Dell. Still , for the week, the Dow gained about 50 points.
Stocks declined Friday as technology shares took yet another hit — this time it was weak earnings from PC maker Dell. Merck was among the few gainers today as investors moved into classically safe bets like health care, consumer staples and utilities.
Stocks are being held hostage by the dollar and the S&P 500 is in a "struggling trend" that could push the index lower or lead to "horizontal" gains, Bill McLaren, independent trader, told CNBC.
BofA Merrill Lynch lowered its 2010 growth forecast for global semiconductor industry and downgraded ten chipmakers, including Intel, turning more cautious on the group on expectations of a modest overshoot in global supply chain inventories.
As global markets digest Dubai's debt announcement, investors are wondering: Is it time to dump equities? Don Bertrand, vice president of WealthTrust-Arizona, and Kelly Campbell, founder and principal of Campbell Wealth Management, offered their takes on the shifting market environment.... Read More