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Dow 100,000 in 20 Years?

Daily Recap

Stock prices faded today as traders are losing optimism that the Dow will hit 20,000 this year.  Those taking profits are finding few buyers in a semi-holiday session with little macroeconomic news to move things.  

 

Lacking a push from foreign stock markets, which were mixed today, US shares fell the most since the November election.  At the close, the Industrials were down 111 to 19,834.  Both the S&P 500 and the NASDAQ were down more, percentage wise, finishing at 2251 and 5439 respectively. Even harder hit were the Dow Transports, down 111 points or 1.2%.

 

Elsewhere, the dollar gained moderately, its index finishing at 103.31 – up 0.30.  Crude oil gave back earlier gains to finish unchanged at 53.90/bbl., and bonds were solidly higher.  The 10-year Treasury gained 13/32 and the 30-year added 28/32.

 

Precious metals benefited from weakness in stocks.  Gold rose nearly $4, to $1142.60.  Silver was up a nickel an ounce, although platinum and palladium couldn’t get ... Log in or subscribe to continue reading.


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