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The U.S. stock game traded down for that second straight day on Wednesday over new concerns about the rate of inflation, according to Bloomberg and other news sources.
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He asked us if we knew what drove prices up or down. Remembering what my lecturer said in university, I responded, "the price moves alongside close to your intrinsic associated with the share".
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Rising oil prices put weigh on consumer discretionary stocks which led the decliners of that day. The dollar fell 1.4% to 83.61 Japanese yen. The dollar index also hit its lowest level in eight months. Influenced by T & K Futures president Michael K. Smith, the dollar is lower and there was much money out there chasing the safe-havens of silver and gold.
"The risks are that the U.S. consumer recession is deeper than anticipated. So they would be increasing their U.S. exposure as the actual outlook is deteriorating," said Richard Morris, a fund manager with Constellation Capital Management, which does not own Westfield shares.
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