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A Breakdown of Traditional Connections

Daily Recap

World markets took a breather today, with London's FTSE breaking its winning streak and European stocks as a whole finishing lower following weakness in the auto sector. Asian markets were all lower as well, as the Global Dow gave back 0.15%.

 

In the US, the latest inflation numbers were unchanged, while industrial production rose 0.7% in July and building permits fell 0.1%. New York Fed President William Dudley suggested that interest rates would rise next month, adding to the mild downward pressure on stocks following Friday's trifecta of new highs in all 3 major US stock indices. 

 

Precious metals and oil rose, with gold up $7 mid-day and platinum up $9. Silver's having a tougher time, unchanged for the day, while the mining shares were pulled lower by a weak stock market, XAU off 0.6%. Crude oil gained 84 cents, to $46.58/bbl. Both bonds and the dollar were lower. 

 

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