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Not Necessarily So

Daily Recap

Trading remains lighter than normal in most markets as we get closer to Christmas, which is increasingly more of a secular world holiday. European markets gained some strength early on, but ended the day mostly lower despite improvement in the energy prices that have been the main cause of recent weakness. 

 

US stocks traded mixed the first half of the day: the Dow and S&P 500 higher, but NASDAQ lower.  As we approach the close in New York, however, all three indices are up smartly. 

 

Features today included the latest GDP numbers (in line with expectations), but a surprising drop in home sales - down 10.5%. However that decline was mainly due to supply problems rather than weak demand, so it didn't do much to dampen Wall Street's pre-holiday propensity to add to Monday's gains.

 

As for the precious metals and the currencies, there's little going on, as people apparently ... Log in or subscribe to continue reading.


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