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Repeating the Same Mistakes

Daily Recap

Stocks turned volatile in the US today, after being higher in Asia and then mixed in Europe. Still driven by good earnings news, the Dow Industrials led again on the upside, running up about 100 points at their high mark. The NASDAQ followed, based on good Facebook news – until it didn't. A huge decline in the DJ Transportation index shook traders' confidence, and (so the story goes) they sold overvalued tech stocks to lighten up their overall exposure. That took the NASDAQ from about 50 points higher to about 50 lower!

As mentioned, Asian shares rallied, on the back of yesterday's US gains. The Asia Dow finished up 0.73%. In Europe, the STOXX 600 fell 0.42%. In the Americas, stocks were pretty quiet except for in Mexico, where they lost 0.79%.

Government bonds were quietly mixed 'round the world. The US 10-year note fell 8/32, which boosted its yield to ... Log in or subscribe to continue reading.


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