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Daily Recap

Once again the feature is higher prices across the board, with new all-time highs in the major indices. The President is again promoting his upcoming tax changes, this time labeled "massive," and investors are taking him at his word. It didn't hurt that January's retail sales rose a solid 0.4%, and that the CPI was up double the expected amount, + 0.6%.

Thus, US shares built on Asian and European gains, which in turn were up mostly because the US was up yesterday. Asian markets were up about 1% for the most part. Europe was a bit less enthusiastic, but the STOXX 600 was nevertheless up 0.34%.

Janet Yellen's confirmation of upcoming higher interest rates didn't hurt stocks, but did knock bonds lower, pushing the 10-year Note back over a 2.5% yield. The US dollar index initially rose, but near the close is down a tenth of a percent.

Gold started off quietly, took a ... Log in or subscribe to continue reading.


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