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Conflicted

Daily Recap

Equity markets in the U.S. stabilized after yesterday's declines. With no new major geopolitical events, buyers began sorting through some of the stocks that took a hit yesterday, causing most major averages to rise.

 

The Industrials and Utilities were the only two averages in the red today, and their declines were modest, down 0.05% and 0.10%, respectively. Meanwhile, the Transports put in a strong performance, rising 0.67% and setting a new all-time closing high. In that respect, they reconfirm the bullish action in the Industrials.

 

Overseas markets were once again mixed, with the Stoxx 600 rising 0.03% while the Europe Dow managed to fall 0.79%. In Asia, most major average were little changed, thought the bias was to the downside. The Asia Dow fell 0.15%, and the Global Dow declined 0.29%.

 

Safe haven buying from yesterday unwound today, leaving bonds and the precious metals lower. The 10-year note fell 4/32 to yield 2.24%. The ... Log in or subscribe to continue reading.


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