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Math is the Key

Daily Recap

 

Today was a catch-your-breath day for most markets. Knowing what stocks, bonds, gold, and currencies did on Friday and yesterday, just figure that they did the opposite today. As the old saying goes, even if stocks or the British pound or whatever is going to zero, they aren't going there in just one day or one week.

Thus, stocks rose modestly in Asia and more than that in Europe, where French, German, and British markets were all up more than 2%. The Global Dow gained 1.2%.

Oil prices rebounded (over $1), as did the British pound (up a meager 0.6%). The US dollar gave back some ground, but not much. Precious metals were mixed, with the strongest previously -- gold -- down some $10. Platinum, palladium, and silver were higher, while the mining shares traded on both sides of yesterday's close, uncertain where to go.

Favorable news on US housing provided additional strength to ... Log in or subscribe to continue reading.


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