Market Update – June 8th 2010
By the end of the day, the DJIA was positive $123.50 and several commodities (including gold and oil) made gains as well (we wrote about Gold earlier today – you can find that piece here).
Fed Chairman Ben Bernanke came out and made some cautiously hopeful comments today, stating that he saw the economy as being back on track and growing, but that it wasn’t going to be comfortable just yet.
Very little news today out of Europe, except the continuing decline of the Euro – a currency that may be in hot water in the future
Mortgage securities today showed very little movement, although downward pressure still exists which is keeping the rates as low as they are. Once some of these factors loosen their grip, we should see a fairly quick rebound on rates.
Another leaky rig was found in the Gulf Coast today – see The Big Picture for more info
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