Today brought a second day of higher prices after the Brexit chaos of a few days ago. Apparently, investors have decided that a UK-less EU may not be such a disaster after all. To whatever extent that is the case, the fact that US stocks have been able to regain more than half of their previous decline is impressive and hints that their future path is more uncertain than outright bearish.
Stocks rose in Asia and Europe as well, with most markets up 1% or more. Britain's FTSE was up an impressive 3.6%, so perhaps the Leave crowd isn't so wrong after all? Surely there's more action to come in both directions in the weeks ahead.
Oil supplies fell further in the US, with no increase in drilling rigs yet. Crude oil jumped with a nearly 4% increase, and oil stocks responded accordingly. That, along with yesterday's improved consumer confidence report, aided US ... Log in or subscribe to continue reading.
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