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Technology Income Plays: Undervalued and Outperforming

Daily Recap

Stock markets mostly bobbed around today after yesterday's declines in the US.  Asian shares were mostly lower, Europe was mixed, as were US stocks.  Rolling into the close, the Industrials are going to break their 7-day losing streak, finishing up 41 points and near the high of the day.  The NASDAQ and S&P are similarly up modest amounts, as gains in energy and financial stocks outweighed weakness in the consumer staples and health care sectors.  

Oil prices bounced, based on the latest US inventories report that showed a bigger decline in US gasoline inventories.  West Texas Light Crude (WTIC) gained $1.62, to finish over $41/bbl.  XLE and CVX rallied accordingly, finishing above 67 and 100, respectively.  

US Treasury yields fell slightly, especially at the long end.  The dollar rallied, with the US Dollar Index up  0.43%.

Precious metals traded lower all day on profit taking and strength in the dollar.  Gold finished $8 ... Log in or subscribe to continue reading.


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