Oil prices and interest rates: more often than not, one or both of those is all the market cares about on a given day. Today it was the price of oil, down 3% ($1.60) on news of higher inventories, and dragging the stock market down with it. Our energy stocks, CVX and XLE, were hit hard today.
The other focus is anticipating the monthly jobs report, due out Friday. Will the Fed raise rates before or after the November elections? That's the big question du jour,
and Friday's report may well determine the answer - until the next piece of minutia hits the market. Both bonds and the dollar are quietly mixed today ahead of Friday's potential blockbuster report.
Metals are mostly lower, with gold down $2 and platinum down $7, while silver is up a nickel. The mining shares are down again, with XAU flirting with the 90 level, That takes it down 21% from its highs a mere 3 weeks ... Log in or subscribe to continue reading.
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