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Finally - A Correction!

Daily Recap

Last night's address to the country by the president was generally well-received, and boosted investor confidence after a couple of tough weeks of lower prices. That, along with optimistic news on the legislative front regarding tax reform, started stocks higher from the opening bell in the US. Good gains by overseas markets didn't hurt either; the Asia Dow was up 0.39% and the STOXX 600 gained 0.83%. Our neighbors both to the north and south were also in the green, with Brazil leading the pack, up 1.98%.

 

The US dollar got a boost from Trump's strongest speech yet, its index rising 0.45% to 93.54. Precious metals naturally sold off, with gold down $6, silver off just a cent, and platinum falling $6. XAU, torn by dual influences, chose to follow the metals lower, losing 0.6% to 84.90.

 

Bonds also sold off, on investors' great appetite for risk assets. The 10-year ... Log in or subscribe to continue reading.


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