US share prices zoomed higher today, on the heels of what arguably was President Trump's first ever conciliatory, presidential-sounding speech. Market participants were relieved at the prospect of more unity towards achieving his goals, and the optimistic vision he painted for the country.
Foreign markets responded positively to Trump's speech overnight, with both Asian and European exchanges averaging gains of about 1.5%. The dollar also gained, buoyed by a markedly increased perception of a Fed interest rate hike this month. That, in turn, sent bonds tumbling, as the 30-year T-bond lost 1 1/4 points and the 10-year note fell half a point, sending its yield up to 2.456%.
Crude oil lost a quarter a barrel, though that didn't keep energy stocks from booming along with the rest of the market. XLE was up $1.44, and CVX was up $1.37. For the market itself, the Dow Industrials finished up 302 points, the NASDAQ rose ... Log in or subscribe to continue reading.
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