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Higher Metals Ahead?

Daily Recap

Stocks continued the rally from yesterday, led by Asian markets which were up solidly across the board. European equities rose, though not as much, still relieved by the results of France's presidential election. The STOXX 600 finished up 0.21%. 

 

But once again, US shares led the charge. N. Korea's anniversary came and went without a missile launch or nuclear test, for a big WHEW! here and abroad. Trump's promise of lower taxes ahead (down to 15% for corporations) heartened investors, as did more good economic news from the housing sector. Reports of kicking the Mexican border can down the road a piece helped too, as it made a government shutdown less likely.

 

Bonds, the US dollar index, and precious metals were all losers today, as the "risk on" crowd took control. The 10-year Treasury yield rose to 2.335%, and the dollar fell to 98.78, down 0.31%.

 

Gold gave back another $12.50/oz. or ... Log in or subscribe to continue reading.


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