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Trend vs. Value

Daily Recap

Lower earnings from McDonald's took some 40 points away from the Dow, and set the tone for lower prices, despite positive news on housing and consumer sentiment. Once again in the "waiting to hear what the Fed says" mode, traders are reluctant to push the case much, one way or another. 

 

A Fed decision is due tomorrow, in their first post-Brexit meeting. The big money seems to think rates will remain unchanged. Treasury yields are up slightly in the mid-range maturities, but unchanged otherwise.

 

World stock markets were about evenly split, up vs. down, as the Global Dow finished up a mere 0.02%. Similarly, the US dollar index is up ever so slightly as well. Crude oil is having even more trouble, trading below $43/bbl. on continued supply concerns.

 

Precious metals are the winners today, with gold up about $5, silver up 7 cents, and platinum up $9. The mining shares are ... Log in or subscribe to continue reading.


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