A Press Association news article recently showed that scientists had found a new use for gold — as components in heart implants. According to the article, scientists have added tiny “nanowires” to heart tissue and the result has been a higher level of functioning. In the future, some scientists are saying this technology could be used to repair the damage left by heart attacks. (more…)
Looking for some stock picks for July? Tom Busby, president and CEO of DTI, offered some ideas at DTI’s Windy City Workshop in Chicago this morning. Busby said the current market “gives hope for opportunity.” He said that in general, traders should pick stocks that are liquid and widely followed, so that news on companies is easily available.
Looking for certainty in the direction of financial and commodities markets? Now is probably not the time. That was the overriding theme from today’s webinar on the third quarter market outlook by Darin Newsom, senior analyst at Telvent DTN. “‘Flux’ is the best word to describe these markets,” Newsom said. “These markets can change on a moment’s notice.” For the Dow Jones Industrial Average, Newsom said the long-term trend remains down while the short-term trend is uncertain. “I’m basically flat this market. It’s difficult to read and I’m getting mixed signals.” (more…)
As the dollar continues its massive losing streak, the last place you would expect to see it is in the “best” column on any “best/worst” style list. But that’s exactly where it falls on Casey Research’s new report on the economy, “The Good, Bad, and Ugly: Year-End 2009.” Casey Research lists the U.S. dollar under “The Good” column because the dollar is the reserve currency of banks around the world. (more…)
In today’s New York Times, Maureen Dowd explored the new real-life gold rush in California. With the economy approaching rock bottom, some are hoping to strike it rich panning for gold, just like in days of yore. Here’s an excerpt from her column:
With the dollar diminished and financial institutions in the doghouse, a hard nugget suddenly seems a safer bet than an ephemeral derivative. (Gold is trading at about $880 an ounce.) News reports are heralding a neo-Gold Rush from Modesto to the Mojave Desert, a revival in prospectors at California’s streambeds, spurred by the sputtering national economy, the state’s 10.5 percent unemployment rate leaving many with free time and the weighty price of gold.
This morning just before 8:00 a.m. the euro was trading at 126.30 and over the next hour traded up 184 pips to 128.14, a startling move, especially given the lack of earth shattering economic releases and natural disasters.
“Given that this market trades $29 million per second, $2.5 trillion per day, I can’t imagine what kind of an order it would take to move the euro 150 pips,” says Ken Lazzara, chief dealer at EasyForex.
