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Top Stories Metals Stocks: Gold futures trade higher as dollar weakens June gold is back on the rise, within hailing distance of $1,600, as the dollar turns lower following a long winning streak for the greenback.
Tech Stocks: Tech stocks mixed ahead of Facebook debut Social networking giant ready to start trading at $38 a share; Yahoo reportedly in deal to sell at least some of its Alibaba assets back to the Chinese e-commerce company.
Europe Markets: Europe stocks choppy after Spain bank downgrades Europe stocks traded choppy with losses for miners and drinks makers, while banks rebounded from earlier losses related to a downgrade of Spanish banks by Moody’s Investors Service late the prior day, amid talk of a ban on short selling of those institutions.
Futures Movers: Oil extends losses to sixth day Oil futures extend their losses Friday, looking at a sixth consecutive day of declines as investors remain concerned about global growth and demand for oil as the euro zone’s debt problems rage on.
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May 18, 2012 10:56 AM EDT
The biggest complaint about yesterday’s rally was that there wasn’t a clear catalyst. I beg to differ. The catalyst was “stability”. To start with, investors sold into the close on Tuesday. It was the first day back from a three day vacation and the rally attempt failed. The more the rally lost traction, the more the bears jumped on the sell-side. After weeks of waking up to bad global news and very negative market action ove... full story >>