Stock Market Snapshot for August 4, 2010

US dollar is up, gold is up, oil was up (now flat), consumer discretionary is up, ag(riculture) is up.

US dollar being up is probably due to a technical rebound from oversold condition. Agriculture stocks (fertilizers, ag commodity ETF, etc) may be reacting to the Russian draught and wild fire destroying the fields. Probably flooding in Pakistan and on-going severe draught in India, too.

Gold, oil, consumer discretionary - they seem to be pricing in the imminent QE2.

The Federal Reserve is scheduled to have the FOMC meeting next week (Tuesday, August 10).

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