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Time Frames Matter

Daily Recap

A big jump in Japanese securities was the main exception to the very quiet Asian and European exchanges. In the US, the Trump rally got back on track again, aided by yesterday's strong ISM number and today's sales increases from the Big 3 automakers, and despite a big drop in mortgage applications.

 

The dollar sold off half a percent, following yesterday's 14-year highs. Bond prices, and therefore yields, were about unchanged, despite signs of Fed concern over excessive macro demand coming from expected Trump spending and borrowing.

 

Oil prices gained after a report of unexpected drops in US supplies. Crude finished above $53/bbl., up 1.5%. Precious metals also rose, on top of yesterday's nice gains. Near the close, gold is up $5, silver up 13 cents, and platinum is $6 higher. Aided also by the general stock market, XAU added another 1.3% today.

 

Rolling into the 4:00 PM EST bell, the Dow ... Log in or subscribe to continue reading.


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