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The Dragon's Tail and Dying Unicorns

Daily Recap

As in the past few sessions, it's mostly a tale of oil prices and the holidays. Light holiday trading this week and next week make it easier for markets to move sharply one way or the other. It is also reason not to read too much into any big moves.

The Lord giveth and the Lord taketh away. Last week was the taking week, with weak energy prices. But today oil is up sharply, and that has boosted most commodity related investments. European markets, very hard hit by lower energy prices before, bounced back smartly today, with London's FTSE at the highest price in three weeks and the Stoxx Europe 600 finishing up 2.7% on the day - all led by the miners and oil companies. Bargain hunting there is at least part of the equation.

Similarly, we have all major US indices up about 1%. The latest new home sales were ... Log in or subscribe to continue reading.


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