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Concerns Mount

Daily Recap

US stocks, like their Asian counterparts, didn't do much today.  Except for the NASDAQ and especially Apple, again suffering from news of slow sales. Holding back stocks today was also weakness in retail sales, and an unexpected sharp rise in the weekly jobless claims.  The Dow Industrials gained 9 points, but the Transportation Average joined the NASDAQ in posting big losses.

Despite those signs of potential weakness, several Fed officials expressed confidence in the economy and reiterated the likelihood of higher interest rates in the near future.  On that news, 30-year Treasuries gained another 3 basis points (0.03%) today.

Oil had a good, though volatile, day and finished up half a buck a barrel.  The market was spooked by news that supplies of Iranian oil had increased much more than people thought, but large declines in Nigerian, US and other countries' production calmed traders fears in that regard.

The precious metals gave back ... Log in or subscribe to continue reading.


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