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A Pause in the Action

Daily Recap

It was another quiet day, as corporate earnings came in mostly on the good side and inflation data confirmed a strong US economy, but mostly everyone is waiting for Trump's inauguration and what comes after that. Alibaba's Jack Ma says there is no chance of a trade war between China and the US, after meeting with Trump, mirroring the market's larger view that everything's going to work out just fine.

 

Overseas equities were similarly quiet, with key Asian markets modestly higher and European shares almost dead even on the day. There was action elsewhere, however. Crude oil fell 2 1/2% to $51.26/bbl, bonds were lower, precious metals sold off, and the dollar showed good gains. Specifically, the 10-year T-Notes lost nearly a full point, to yield 2.418%; gold fell $11, silver 13 cents, and platinum $14. The dollar index rose 0.80 to 101.24.

 

At the close, the Dow was down 22 points, while ... Log in or subscribe to continue reading.


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