High-Yield, Low Risk ETFs Outpacing the S&P 500
The Fed did as everyone expected by raising short rates by a quarter percent. It also commented that next year will have three rate increases instead of two, in recognition of a stronger economy. US producer prices rose more than expected, but retail sales, industrial production, and business inventory numbers were disappointing.
US shares sold off, in rather volatile trading. In the end, the Dow lost 119 points, the S&P 500 lost 18 points, and the NASDAQ fell 27. European shares had been lower also, and Asian shares were mixed.
It was a bad day for the precious metals (again), as gold tumbled another $14, finishing under the $1150 mark that many thought would support prices. Silver fell a dime, and platinum was down $8. Commodities had a tough time also; crude oil lost more than $2, to $50.91/bbl.
The dollar liked the thought of higher rates, and rose a full percent against a basket ... Log in or subscribe to continue reading.
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