US stocks started out with a mild boost from overseas exchanges, where stocks were mostly higher. Good news about durable goods orders, jobless claims, and home sales set the background for higher stock prices yet again. But wavering conviction about interest rate hikes in front of Yellen's comments tomorrow kept investors cautious and US markets close to unchanged.
Crude oil prices vacillated around yesterday's closing price near $50. The dollar was lower, along with Treasury yields. Precious metals were again mixed, with silver, platinum, and palladium all higher, gold lower, and the mining shares unchanged.
Today was a day of rest for markets torn by tumultuous recent moves. Tomorrow may set the tone for what's to come next.
Da Vinci’s Sapere Vedere
By Benjamin J. Butler
Airport Lounge, Seoul, South Korea
Last year I had a lost-in-translation moment when briefing a Sovereign Wealth Fund on my thoughts about the future. After I said something about the global economy and the ... Log in or subscribe to continue reading.