- Dog left in car blasts horn for 15 minutes
- DCCC chair hopes Alex Sink will run again in November
- U.S., allies threaten ‘further action’ against Russia
- Obama to order businesses to hike overtime pay for salary workers
- Last laugh: Marine vet fires off jokes from the grave with own obituary
- Deportations come mostly from border, DHS chief says
- NATO sends surveillance planes to watch Ukraine
- Climate change not a top concern of Americans, poll shows
- GM faces federal investigation for slow recall that led to 13 deaths
- Iran president reaches out to Oman on friendship tour
Latest Chris Versace Items
Recent headlines have favored the postelection fallout, what may or may not have been accomplished at the recently completed Group of 20 meetings and renewed concern over eurozone issues.
This past week was both an interesting one and for the most part one that turned out I would say as expected. I'm referring to both Election Day and the formal announcement of what many have come to call QE2, or Quantitative Easing Part 2, by the Federal Reserve.
Normally when investors think of commodities, things like corn, wheat, soybeans, hogs, cocoa, lumber, gold, silver and coffee enter the mind. While those are key ones to watch, there are a number of others and a certain subset are getting all the attention. What I'm talking about are rare earth elements.
Over the past several weeks, the tone of my columns has become more cautionary because of signs that the economic recovery has slowed and, despite stimulative efforts, job growth has proved elusive.
This week has been one of patience and tension for investors.
A few columns ago, we were in the thick of the Back to School shopping season, and as we exit that window of buying, eyes are increasingly looking through to the year-end holiday shopping season. It seems that this bonanza of buying creeps further ahead each year, and the shopping mentality has started to eclipse the Thanksgiving holiday.
Earlier this week, Starbucks Corp. announced that it plans to charge more for large-sized and labor-intensive drinks because of surging prices for coffee and other commodities. The spot price, which is the price quoted for immediate payment and delivery, for a pound of Colombian coffee rose to $2.43 this week, up 32 percent from $1.84 this time last year. Other closely watched coffee crops, such as the one in Brazil, also have seen a strong move higher in their respective spot prices. All in all, coffee prices are at the highest level since 1998 per data from the International Coffee Organization.
Contrary to most past Septembers, so far September this year has been a boon to the stock market with the S&P 500 up just shy of 7 percent for the month to date.
While the formal end of summer is still a tad away, the Labor Day weekend and back to school signal a return to business as usual for most if not all of us.