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It Doesn’t Pay to be a Pessimist

Daily Recap

U.S. stocks spent most of the day in the green before selling off toward the close. When all was said and done, the Industrials were down 6 points with the Transports following in direction, down 0.22%. Despite losses there, the S&P 500 managed a 0.09% gain, and the Nasdaq, the top performer of the day, rose 0.38%.

 

Overseas the situation was rosier, as nearly all European and Asian markets were in the green. China's Shanghai Composite was the only index to post a decline, while the Asia Dow rallied 0.36% and the Stoxx 600 rose 0.38%. The best performances were had by India's Sensex, and Brazil's Bovespa, which were both up 1.13% today.

 

Bonds finally stabilized after a two-week selloff, with both the 10-year and 30-year rising modestly in price. The yield on the 10-year note fell to 2.376%. The dollar was little changed, its index rising 0.04% to 96.06.

 

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