Mostly a down day worldwide, with only one out of seven of the major Eurasian markets (the Indian Sensex) trading higher today. In the US, that along with tepid news from the Fed's "Beige Book" kept stocks on the defensive for most of the day. Construction spending and car sales both slumped, while manufacturing activity rose only modestly.
But by the end of the day, US stocks were able to register modest gains, along with the price of crude oil. The Japanese yen gained 0.6% against the dollar, contributing to the dollar index falling half a percent. Interest rates rose on the short end, but were unchanged or a bit higher for longer maturities.
Precious metals struggled, with gold down a couple bucks, silver and the mining shares about unchanged. Platinum once again got walloped, in part because of slowing growth in China and in car sales, where the metal is ... Log in or subscribe to continue reading.
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