The market just had its best June in over eight decades

From Fred Imbert:
KEY POINTS
NYSE:VTI June 28, 2019 6:25pm

Oil prices drop amid cooling geopolitical tensions

From Reuters: Oil prices fell just before the settlement on Friday after the remaining parties to the Iran nuclear deal vowed to help normalize trade with the Middle Eastern nation.
NYSE:USO

Oil prices edge slightly higher as investors await G-20 outcome

oilbarrell
From Reuters: Oil prices inched higher on Thursday, kept in check by worries about whether the G-20 summit will produce a breakthrough on trade that could boost crude demand.
NYSE:USO June 27, 2019 5:55pm

Investors are growing more concerned as parts of the yield curve start to steepen

From Yun Li:
KEY POINTS
NASDAQ:TLT

Retail sector gets a downgrade from Goldman Sachs due to trade concerns

Norstron sign
From Thomas Franck:
KEY POINTS
NYSE:XRT

Healthcare sector in focus during the first Democratic primary debate

Healthcare
From Kevin Breuninger :
KEY POINTS
NYSE:GDXJ

The stock market falls for the 4th day in a row

From Fred Imbert: The S&P 500 posted a four-day losing streak on Wednesday -- its longest slide since early May -- as investors braced for a key meeting between President Donald Trump and Chinese President Xi Jinping later this week.
NYSE:DIA June 26, 2019 5:58pm

The Fed’s failing to cut rates could be what sinks the stock market

Federal Reserve
From Jeff Cox:
KEY POINTS
NASDAQ:TLT

U.S. sees soaring demand for build-to-rent housing

houserenovation
From Diana Olick:
KEY POINTS
NYSE:XHB

Oil prices rise following a fall in crude stockpiles supply

oil pump
From Reuters: Oil prices rose on Wednesday, buoyed by an outage at a major refinery on the U.S. East Coast and industry data that showed U.S. crude stockpiles fell more than expected.
NYSE:USO

Why JP Morgan says the market rally is limited under current conditions

From Yun Li:
KEY POINTS
NYSE:SPY

Gold lost recent momentum today and this analyst thinks it has further to fall

gold bars
From Keris Lahiff: The red-hot gold trade is cooling off on Wednesday.
NYSE:GLD

Why this trader thinks gold will surge higher

gold
From Keris Lahiff: It's a gold rush.
NYSE:GLD

Economists caution that market optimism is getting ahead if itself

Guyatcomputer
From Stephanie Landsman: Wilmington Trust's chief economist believes the market rally's foundation is on shaky ground.
NYSE:SPY June 25, 2019 3:00pm

Gold is finally experiencing the breakout that bulls have been waiting for

Gold
From Maggie Fitzgerald:
KEY POINTS
  • Investors are piling into gold, sending the precious metal to a six-year high this week, and analysts think the commodity has established a "base" to go even higher.
  • The precious metal is up more than 8% this month, on pace for its best monthly performance since 2016.
  • Credit Suisse and Morgan Stanley are among the Wall Street firms that see a big second half of the year for gold.
Investors are piling into gold, sending the precious metal to a six-year high on Tuesday, and analysts think the commodity has established a "base" to go even higher. Gold futures hit a high of $1,442.9 on Tuesday, its highest level since May 2013 when it reached $1,444.9. The precious metal is up 9.6% this month, on pace for its best monthly performance since February 2016 when gold gained 10.57%. "Bigger picture though, given the magnitude of the base, which has taken six years to form, we suspect we could even see a retest of the $1,921 record high," David Sneddon, global head of technical analysis at Credit Suisse, said in a note to clients Monday. Sneddon said gold has established a multiyear base that could provide the platform for a "significant and long-lasting rally" for the precious metal. Gold is breaking out after Federal Reserve Chairman Jerome Powell said last week it would "act as appropriate" to keep the current economic expansion going. Powell's dovish comments increased the odds of the Fed cutting rates in July. The Fed's easier policy has also weakened the dollar. Again a basket of currencies, the dollar hit its lowest level since March on Monday. "We have finally seen more conclusive signs of the USD starting to materially weaken," said Sneddon. "With the DXY removing pivotal support from its 200-day average to complete an important bearish 'wedge' reversal, which should provide a fresh and significant catalyst for Gold to extend its gains." Gold prices also reacted positively after President Donald Trump signed new sanctions on Iran on Monday, days  after Iran shot down a U.S. drone, increasing geopolitical uncertainty. Gold is up 10.6% for the quarter and is on track for its biggest quarterly gain since the first-quarter of 2016, when it rose 16.54%. Morgan Stanley's commodity strategist Susan Bates said gold is the firm's No. 1 commodity pick. "Morgan Stanley's forecasts of falling real rates and a bearish US dollar outlook, against an uncertain macroeconomic outlook, should lend significant upside to gold's price through 2H19 and into 1H20," Bates said in a note Monday. Gold futures are currently trading up 0.7% at $1428.6 and spot gold is trading up 0.44% at $1425.4. The metal is seen as a safe haven and store of value during times of a weakening dollar, slowing economic activity and increased geopolitical tensions. --CNBC's Michael Bloom contributed to this report.

The SPDR Gold Shares (GLD) was trading at $134.31 per share on Tuesday afternoon, up $0.37 (+0.28%). Year-to-date, GLD has gained 8.62%, versus a 9.82% rise in the benchmark S&P 500 index during the same period. GLD currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #1 of 34 ETFs in the Precious Metals ETFs category.
This article is brought to you courtesy of CNBC.
NYSE:GLD

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