The DJIA crossed the 16000 mark for the second time this week during intraday trading

 

The DJIA crossed the 16000 mark for the second time this week during intraday trading,  but fell .4% after the Fed minutes were released yesterday afternoon. Officials have indicated that tapering is coming in the next few months if economic data meets expectations. Investors are not concerned if tapering is coming, but are more concerned of when it will indeed happen. St. Louis Fed President James Bullard mentioned a solid November jobs report would increase the possibility of the Fed paring its bond purchases at next month’s meeting. Gold hit a four month low of 1,240.69 yesterday as nervous investors were in a sell off mode. Silver fell through its $20 level after 3.5 months putting additional pressure on the metal this morning. Platinum hit a new one month low yesterday of 1391.70. The PPI (MoM) for October fell .2% and the initial jobless claims fell by 21,000 with a figure of 323,000 from the previous week’s claim of 344,000. Palladium is the only metal trading in the positive territory at the moment. Have a great day!