Hillary Clinton was widely given the win on last night's debate with Donald Trump, and US stocks breathed the veritable sigh of relief. Asian stocks rallied overnight, though European equities were generally lower. But after a lower start, US markets headed higher, boosted also by a surprisingly high consumer confidence number -- 104, vs. the expected 99.
Precious metals were lower, as was crude oil, but US stocks didn't care, as the Dow is set to close more than 100 points higher. Bonds rallied as well, with US Treasuries gaining a basis point or two. But gold lost about $10, silver was down about 30 cents and platinum fell $16.
The US dollar fell against the Mexican peso, with a lesser likelihood of a border wall and greater animosity between the two countries. Overall however, the dollar index was down 0.13 -- not much.
Faith and Patience
by Jon S. Strebler
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