Yesterday’s Retail Sales figures came out better than expected pushing a bit more optimism into the Dow while the Nasdaq broke down lower.
The Fed minutes there was a lot of talk surrounding inflation, with the increase in Government Stimulus spending there is an expectation that a jump in inflation will be on the horizon, however they are to “stay vigilant” with their asset purchasing.
The overachieving stepchild of Wall Street pushed to make a new high in the early hours of the morning as Bitcoin hit $52 880, the alternative asset class does seem to be where institutions are leaning toward at the moment.
Bond yields are still having a huge effect on Gold as it pushes down the precious metal, inflation and stimulus should play its part in the recovery of Gold.
Watch out for Philly Fed Manufacturing Index coming out this afternoon out of the US as well as Crude Oil Inventories. There’s no real high impact news coming out today except for the unemployment rate this morning out of Australia that came out better than expected at 6.4% compared to 6.5% that was expected