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Productivity Growth: The Missing Link?

Daily Recap

Renewed concerns about oil stockpiles sent crude prices down nearly 4% today, the biggest drop since November. This weighed on energy shares, which in turn weighed on the broader market, leaving most major averages in the red for the day.

 

At the close, the Industrials are down 76 points at 19,887. The Transports followed suit, down 0.9%, with the Utilities down an even greater 1.3%. The S&P 500 declined 0.45% while the Nasdaq bucked the trend, rising a modest 0.2%

 

International markets were mixed as well, with most of Europe in the red and most of Asia in the green. Notable exceptions were Japan's Nikkei, down 0.34%, and India's Sensex, down 0.12%.

 

Treasuries prices continued their upward correction, with the yield on the 10-year note falling to 2.37%. The dollar weakened slightly, its index down 0.25%.

 

Precious metals also continued their upward correction with gold rising $11.50, silver up 16 cents, and platinum up ... Log in or subscribe to continue reading.


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