WEEKLY MARKET DIGEST: MARKETS CHEER IN UNISON EMPLOYMENT COST INDEX, CHINESE SELL GOLD $GLD $SLV $USO $DIA $SPY $QQQ $TBF $TBT
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. ) MARKETS CHEER IN UNISON EMPLOYMENT COST INDEX July 31, 2015 All markets including stocks, bonds, gold, silver, copper, and oil are rocketing in response to Employment Cost Index. The index came at 0.2% vs. 0.6% consensus. In our analysis, the interpretation of market participants that the Fed will not raise interest rates now is just plain wrong. Also all other evidence contradicts the number released this morning. Our very, very short-term early stock market is positive