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.