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Richard's Thoughts on News & the Markets

Daily Recap

Stocks mostly rested today, after a strong week of gains based on a mix of positive data and hope. Asian markets were mostly lower, led by the NIKKEI, down 0.6%. European exchanges were calm, as the FTSE rose 22 points and German shares finished down just a smidgen.

 

In the US, the Industrials rallied back to positive territory by the close, ending the day up 4 points. The Nasdaq and S&P 500 also gained, up 0.41% and 0.17% respectively.

Bonds rallied again, sending 10-year Treasury yields down to 2.419,%. Crude oil traders are worried about the glut in the US, a result of lower demand and higher production levels. Still, oil finished about unchanged at $53.34/bbl.

The dollar ignored lower interest rates today, as its index rallied 0.40 points to 100.91.

The metals trended lower. Gold fell $3, silver lost 9 cents, and platinum surrendered $8/oz. The miners followed, with XAU dropping nearly 2 points.

 

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