S&P 500 Pares Monthly Gain (Bloomberg)
All three major U.S. stock indices fell today, as housing data damaged investor enthusiasm. This decline halted this month???s fantastic profit streak for the S&P 500. ???Some of the economic data appears softer than we anticipated,??? Eric Teal, a chief investment officer at First Citizens BancShares Inc., said. ???Some pause might be in order over the next few months after the strong gains the first half of the year.???
Asian Stocks Decline, Yen Rises (CNBC)
The Nikkei stock index fell 3% Monday, while the Yen rose to a one-month high against the U.S. dollar. This matched a downtrend throughout Asian markets ahead of major central bank meetings. "All of them are expected to touch on the subject of forward guidance, albeit to various extents. The clarity of the symphony will determine the level of support to the risk appetite. Should any of them be more explicit (more dovish) about forward guidance, the market can be expected to react in a positive way," wrote analysts at Credit Agricole.
Buyers Boost Gold Futures (Bloomberg)
Gold rose as the dollar weakened Monday, fueled by an increase in physical purchases from Asia. ???There is some physical demand from the Far East??? Peter Hug, the global trading director of Kitco Metals Inc., said. ???Traders and investors are looking ahead to the U.S. Federal Open Market Committee meeting that ends Wednesday for more guidance.???
