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A Negative and Fearful Davos

Daily Recap

Asian markets struggled to reverse their sickening slide today, but failed, as Japanese and Chinese markets added a couple more percentage points on the downside.   

 

In Europe, however, signs of further monetary easing sent the euro lower, but stock prices higher.  The STOXX 600 gained nearly 2% on the day.

 

As for the US, the expected bounce off of the summer's lows sent stock prices higher, aided by a big rally in the beleaguered oil market.  Coming into the close, the Dow is up about 1%.  Crude traded above $30/bbl., although it is having trouble staying there.

 

Gold and silver finished about unchanged.  The mining shares were able to move higher on the day after trading quite a bit lower in the morning.

 

A Negative and Fearful Davos

By Benjamin J. Butler

 

South Korea but vicariously at Davos

 

Truth be told, this is the most negative, fearful environment Ive experienced at Davos since 2009, right after the financial crisis hit. But it ... Log in or subscribe to continue reading.


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