Stocks enter holiday season with a tailwind
Qiagen (NASDAQ: QGEN ) — current P/E: 118 Last, but certainly not least, is sample and assay technologies provider Qiagen. It’s not hard to understand why Qiagen’s bottom line has been under pressure, as austerity measures in Europe and tighter government spending in the U.S. have crunched university and corporate budgets that help pay for Qiagen’s diagnostic tests. However, Qiagen also could be at the leading edge of what I suspect is a revolutionary new approach to cancer treatment — namely, diagnostic personalization.
World Stocks up as Dow Heads for Record Close
In Europe, France’s CAC 40 rose 0.6 percent to close at 4,278.53 while Germany’s DAX gained 0.3 percent to 9,219.04. Britain’s FTSE 100 edged down 0.1 percent to 6,674.30. On Wall Street, with the S&P 500 rose 0.3 percent and the Dow 0.1 percent, putting it on track to close at a record high above 16,000 for the second day running. Since the start of the year, the Dow blue chip index is up 22 percent, propelled higher by a combination of solid corporate earnings, a steadily strengthening economy and the Fed’s monetary policy.
“The volatility will come from growth scares,” said Kleintop, explaining that as the Fed tapers, investors will worry that the economy may not be strong enough to withstand it. As for this year, he expects the market to continue moving higher, adding to the already 26 percent gain in the S&P 500 year to date. “I think we’ve got a few more percent to go. I don’t think it’s huge but I think we could get closer to 30 percent on the year,” said Kleintop. “It may be with some ups and downs, but by and large, it’s going to be a very low volatility climb to new highs.” Kleintop expects to see retail sales come in above forecast for the holiday season.
Source: <a href='http://www.cnbc.com/id/101221944' (source) >http://www.cnbc.com/id/101221944
As demand eases, US gold stocks rise to 7-month high
He inherited an economy in recession and an inflation rate that was 40 percent last month. The rial appreciated 2.3 percent since yesterday to 29,300 a dollar this afternoon in Tehran compared with about 30,000 yesterday, according to prices provided by five street traders in the Iranian currency black market. The currency lost more than half its value in the year before Rouhanis election in June, due in part to sanctions denying Iran access to the world financial system. The two sides now aim to conclude a comprehensive accord within six months.
Israel Stocks Extend Rally as Traders Weigh Iran; Saudi Gains
“Eligible” gold stocks are the exchange-approved 100-ounce gold bars held inside the five New York Comex warehouses and can be readily converted into “registered” stocks – the gold used to meet physical delivery requests from the buyers of CME gold futures. While eligible gold stocks swelled to 6.6 million ounces after hitting a near 4-year low of 5.8 million in April, registered stocks have continued to shrink since April to less than 600,000 ounces, the smallest since April 1998, exchange data showed. After a two-day $225 drop in mid-April, huge premiums in China and India for physical gold prompted participants to draw on their gold stocks to ship bullion into Asia for a much higher price compared to other parts of the world. “We can certainly see that the trend has deteriorated in terms of the flow of metals going from the West to the East,” said Suki Cooper, precious metals analyst at Barclays Capital in New York.