Saturday, July 11, 2009

Market Reflections 7/10/2009

A drop in imports and a drop in consumer sentiment are the latest bad news on the economy, offsetting a rise in exports. The S&P 500 fell 0.4 percent to just under 880. Many are warning that investors will not be turning to the dollar this time around should the economy end up bouncing lower. Still, the dollar rose as stocks fell, with the dollar index up 0.4 percent to 80.27. Treasuries were also in demand with the 10-year yield down 11 basis points to 3.30 percent. Commodities moved mostly lower including oil, which fell 25 cents and under $60 at $59.75. Gold held firm just over $910.

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