Looks like the market will open in the red again today.
“U.S. stocks opened lower on Friday as investors grew nervous ahead of extreme weather in Florida and as falling rates plagued banking stocks.” According to Thomas Franck of CNBC.
“Shares of major insurance companies added to their losses this week ahead of Hurricane Irma’s landfall in Florida. Property and casualty insurer Travelers was down 1.13 percent in premarket trade, while reinsurers Renaissance Re and XL Group were down 1.52 percent and 1.32 percent before the bell.”
Franck goes on to explain that with many people looking to put their money in safer assets such as gold combined with doubts over an interest rate hike, the market will continue to reel.
“I think beyond [Hurricane Irma] the focus is really on U.S. Treasury yields,” said FBN Securities Chief Market Strategist Jeremy Klein. “The 2 percent figure is pretty psychological.”
With so many questions now, where should you put your money?
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