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A Change in the Wind

Daily Recap

With no U.S. economic data released today, markets were left to digest Friday's developments regarding health care reform and what it means for future policy.

 

After sharp declines in morning trading, major averages pared their losses to close relatively unchanged. The Industrials shed 45 points while the S&P 500 lost 0.1%. Bucking the trend of lower prices, the Transports actually mustered a positive close (up 0.07%), as did the Nasdaq, which rose 0.2%.

 

Overseas, markets did not fare as well with just about every average in the red, except oddly for the Europe Dow, which was up 0.34%. Japan's Nikkei was the biggest loser, down 1.44%.

 

Evidence of a flight to safety could be found in both fixed income markets as well as precious metals. In Treasury markets, price rose, causing yields to fall. The 10-year note is currently yielding 2.38%. The dollar also fell, its index down 0.44% to 99.00.

 

Gold showed continued strength, ending the ... Log in or subscribe to continue reading.


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