On the somber 14th anniversary of the horrific terrorist attacks of September 11th, 2001, here’s your weekly recap of the financial markets:
- Brazil has its credit rating downgraded to junk status by Standard & Poor’s, though Fitch and Moody’s leave the country at the lowest investment grade.
- The Bank of England decides to leave its benchmark interest rate unchanged in September.
- Hedge funds are playing an increasingly central role in the nearly $13-billion Treasurys market.
- Sam’s Club (owned by Wal-Mart) will begin accepting American Express after Costco ended its long-standing partnership with AmEx earlier this year.
- The Reserve Bank of New Zealand cuts its benchmark interest rate by 25 basis points to 2.75%, with more cuts expected before the year ends.
Thursday’s closing numbers:
- Gold: $1,111.30/oz (+$4.50, +0.41%)
- Silver: $14.74/oz (+3¢, +0.17%)
- Platinum: $983/oz (-$2, -0.2%)
- Palladium: $591/oz (+$9, +1.56%)
- 10-year Treasury: 2.22% (+ 2 bp)
- Dow Jones: 16,330.4 (+0.47%)
- S&P 500: 1,952.3 (+0.53%)
- Nasdaq: 4,796.25 (+0.84%)
- European shares were down ~1.5%
- Asian shares lost ~2.5%
- The USD fell 0.5% to 95.5 on the DXY index