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Life is a Canvas

Daily Recap

Oil rallied to its highest price in 3 weeks, based on Saudi plans to stabilize production. Crude oil rose $1.62/bbl., which helped lift European shares about 1% on average. Asian markets weren't able to benefit from the happy oil news, and finished slightly lower.

 

In the US, new all-time highs were the feature and more than a few analysts are calling for a move to 20,000 in the Dow by a year from now.  The bull is definitely in charge, though definitely a little long in the tooth.

Both bond yields and the US dollar were higher today, leaving the precious metals as the day's big losers.  Gold is up some 27% on the year, but gave back $9/oz. today.  Silver lost 20 cents, and platinum -- often the most volatile of the group -- fell a hefty $37/oz.  XAU, representing the gold and silver mining shares, and thus torn between higher stock prices ... Log in or subscribe to continue reading.


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