Shanghai Data Moves The Markets
The commodity stocks have been on the weak side over the past two trading days. The pullback in the leading commodity stocks comes as the Shanghai Index(China) sold off by 1.45 percent the other night. There has also been a lot of talk from the leading politicians and the U.S. Treasury Secretary Tim Geithner for China to let there currency float and trade in the open market. Currently the Chinese Yuan is basically fixed and pegged to the U.S. Dollar. Many other politicians in the U.S. will argue that a free floating Chinese Yuan would hurt many of the retail companies such as Walmart Stores Inc.(NYSE:WMT), and Target Corp.(NYSE:TGT. Most of the goods that retailers sell comes from China and higher prices at the retail chains would hurt the U.S. consumer further.
The leading commodity stocks are trading slightly lower this morning as the U.S. Dollar Index trades slightly higher on the trading session. Stocks such as Cliffs Natural Resources Inc.(NYSE:CLF), and United States Steel Corp.(NYSE:X) reversed lower yesterday after the declining Shanghai stock index and are trading down again this morning. Please remember that these leading commodity stocks will usually trade higher if the U.S. Dollar Index starts to decline and trade lower. The action in the U.S. Dollar Index and now the Shanghai Index(Chinese stock market) is the driving force behind this stock market in the Unites States and the rest of the world.
Nicholas Santiago
Chief Market Strategist
www.InTheMoneyStocks.com
Read the original story at In The Money Stocks
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).