Gold went on a run late last week, setting an all-time record high last Friday and breaking the $2,100 level for a brief time in overseas trading Sunday night.
Home prices finished the summer at another record high as home affordability tanks to a historical low.
The final trading week of the month kicked off with stocks sliding on Monday, setting investors up for a losing month where much of the optimism of the early summer has fizzled into more tempered expectations of the Fed’s tightening campaign.
The U.S. economy added 187,000 jobs in August, while unemployment unexpectedly increased as the labor market continued to show signs of cooling, data from the Bureau of Labor Statistics showed Friday.
U.S. equity futures struggled for direction as risk appetite cooled from last week’s rally. The yen weakened after the Bank of Japan made its first unscheduled bond purchases in months.
1. Stock investors that have turned too optimistic about the economic outlook are setting up for disappointment, according to JPMorgan Chase strategists. Wall Street traders refrained from making any huge bets in the run-up to the highly anticipated minutes of the Federal Reserve’s latest policy gathering, with stocks, bonds, and the dollar posting small moves.…