Morning Fundamental Compass Direction
Keagan York | Sep 15, 2013 04:15AM ET
"We've confidentially submitted an S-1 to the SEC for a planned IPO. This tweet does not constitute an offer of any securities for sale." This was how Twitter announced, on the corporate feed on its website, that it had filed for a registration statement for an initial public offering with the U.S. Securities and Exchange Commission. So another company that has managed to turn its brand into a verb, with people all over the world "tweeting" about their everyday experiences, will try to turn its founding investors into dot com billionaires.
Syrian President Bashar al-Assad has listed a series of conditions that include the end to threats of military actions from the United States, and the cessation of the arming of Syrian rebels as a prerequisites for his nation entering into negotiations over a chemical weapons deal. Even as John Kerry, U.S. Secretary of State, reiterated that military force remains an option and the U.S. will continue the rebels, Assad's de-mands were broadcasted on Russian TV as Kerry tries to work with his Russian counterpart began negotiations in Geneva for international observers to assume control of Syria's estimated 1,000 tons of chemi-cal weapons.
U.S equity markets have fallen after seven consecutive days of gains as speculation surrounding the taper-ing of stimulus from the Federal Reserve reaches a crescendo a week before the next Fed meeting. Syria continues to weigh on investor sentiment as negotiations continue in an attempt to avoid military con-flict. Gold producers, such as Barrick Gold and Newmont Mining, fell 5.5% and 4.2% respectively. The S&P 500 has fallen 0.34% to 1,683.42. Earlier in Europe, both the FTSE and DAX were barely moved.
Commodity prices managed to gain as a complex even as precious metals suffered heavy losses. The major indexes gained 0.4%. WTI crude gained more than 1% to $108.70 as the U.S and Russia began talks to resolve the crisis in Syria. Precious metals plunged as speculation surrounding tapering of stimulus in the U.S. rises. Gold lost more than 3% to $1,321 while silver fell 6% to $21.80. Copper lost 1.8%. Agricultural commodities were mostly higher with soybean and orange juice concentrate recording the biggest rises.
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