Market Wrap Up : Stocks Bounce Back
After back to back down weeks for the first time in over a year, the markets closed up with the Dow closing up 410.37 (1.7%). The NASDAQ followed suit closing up 107.47 (1.56%) as well as the S&P 500 which rose 36.45 (1.39%).
This most recent bump is obviously welcomed after recent events but should not be interpreted as being in the clear, even compounded with Fridays strong end.
All of the underlying issues still persist and almost every currency had a strong day against the dollar. Even commodes have began to fall as oil dropped below 60 dollars a barrel after peaking at 66 dollars last week.
It appears the instability that has rocked the United States economy as well as the Chinese has put the entire worlds economy on shaky ground.
Crypto is certainly not the hedge against government inflation it was originally billed as.
Gold prices have moved almost side ways along with the recent stumble, but one should expect precious metals prices to rise as the skepticism about the world economy and the power houses that provide the foundation continue to inflate.