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Richard's Thoughts on Taking Action

Daily Recap

Markets moved higher today after a strong monthly jobs report showed that 235,000 seasonally-adjusted jobs were created in February (the unemployment rate dropped to 4.7%), but most averages still posted declines for the week.

 

The Industrials finished the day up 45 points at 29,903, with the Transports following in direction, up 0.88%. The Nasdaq and S&P 500 also finished higher by 0.39% and 0.33%, respectively.

 

Oil once again headed lower, ending the day down 1.6% at $48.49/barrel. This brought most energy related shares down and put pressure on the broader market.

 

In the fixed income world, bond prices moved higher while yields fell. The yield on the 10-year Treasury currently sits at 2.58%. Even with a strong jobs report almost guaranteeing an interest rate hike next week, the dollar sold off, its index down 0.65%.

 

Precious metals for most part continued to sell off, with gold losing $2 and silver falling 11 cents. Platinum was able ... Log in or subscribe to continue reading.


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