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Short-Term Expectations vs. Long-Term Realities

Daily Recap

The Dow Jones Industrial Average started the second half of the year by making new all-time highs - up 130 points to 21,479. The S&P was also higher, but by only 0.23% compared to the Dow's 0.61% gain. And the NASDAQ was down pretty hard - minus 30 points or -0.40%.

 

But the overall equities tone was positive, as European and Asian exchange were mostly higher. Japanese and Chinese shares traded higher, although the Asia Dow showed a 0.30% decline. In Europe, the STOXX 600 rose a healthy 1.06%, with all major exchanges up good amounts.

 

It was the financials that once again led prices higher, as money was clearly going into them and out of tech stocks. Energy companies were also big winners, despite a minor decline in crude oil which was down 0.15%.

 

The precious metals were down hard, hit by a double-whammy of thinly traded holiday markets and a ... Log in or subscribe to continue reading.


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