The U.S. Core durable goods orders contracted by 0.6% in August against the expected figure of 0.6% growth, hence leading to the speculation that the economy still needs some time to pick up, and due to which the Fed may postpone the decision regarding the tapering of stimulus in the mid-September meeting.
The U.S. stock market gained nearly 0.4 on this as the S&P 500 index tested 1667 level but later on those gains were lost as the U.S. secretary of State John Kerry said that the U.S. President would hold the Syrian government responsible for the damage being done by the usage of chemical weapons in Syria. It immediately led to increased concerns regarding the stability of the Middle East, which led the market to fall while allowing bulls to enter in the gold market.
Gold that has been bullish for short-term for the past few days, closed at the 1403 area which indicates that the bulls are ready to take the metal further up as they managed to breach the psychological level and gave a closing above that. Next targets for gold would be 1408, 1421 and 1430.
McDonalds Revamping the Menu
McDonalds is trying hard and setting up innovative measures as it is heading towards revamping its menu in its homeland, the United States, where the fast-food giant is planning on introducing bone-in chicken wings across the country.
The chicken wings would have the flavors of cayenne and chili pepper and would be sold in the packs having 3, 5, or 10 wings not to mention the mouth-watering sauces that come along with them. The minimum price for this item would be $2.99 which may increase in 4 months-time as the overall wings prices are expected to increase in the market.
The share price gained nearly 0.2% on Monday where its current trading price is now $95.4 after the opening of $95.1 on Monday, and could be a good point to buy the stocks as the sales are expected to boost as well.
JC Penny Shares Tumble
The retailer giant’s shares fell by around 1.1% on Monday as the company has filed a prospectus for the sell-off of the 18% stake of a Hedge-fund personnel who was a board member for JC Penny. He is no longer a board member now as he had disputed with other fellow directors, so the firm is trying to sell of his stake from the equity that has led the share price to drop to $13.23 by the end of the U.S. session on Monday.
To contact the reporter of this story: Jonathan Millet email@example.com