US Credit Rating Downgrade, Poor China Data, Stock Market News, and Geopolitics
Latest stock market news
• The downgrade of the US credit rating after the close of trading on Friday is reflected in quotes today.US stock index futures are down 1%.At the far end, US Treasuries are down almost 1%.The US dollar is down 0.3%.Gold is up more than 1% and back above $3,200.Bitcoin has been rising above $107,000 but has not gone higher yet and is just below $105,000 this morning.
• It was a bad day in Asia, as a slump in retail sales in China underscored how far the country will have to go to transition from an export-led to a domestic-demand economy. It is clear that...