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Daily Recap

Thursday was another day of uncertainty for stocks.  Foreign markets were mixed, but the Global Dow again registered a decent gain - up 0.6%.  In the US, concern about economic data and the future of interest rates battled against strong oil prices for dominance, and in the end, the Dow, NASDAQ, and S&P 500 all gained modest amounts. 

 

Energy companies did well, with CVX up 1.25% and XLE up an impressive 1.9%, and having completed a big upside breakout on the charts.  Adding to our XLE positions might not be a bad idea in light of this, especially for those under-weight in the energy sector.

 

Bonds added a little on the upside, while the dollar once again slumped, the US dollar index down 0.6%.  Does this mean a bear market ahead for the buck?  Read on below...

 

Big winners today, apart from the energy sectors, were the precious metals.  Gold rose $9, ... Log in or subscribe to continue reading.


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