Richard’s Thoughts on the Strong Dollar
Today was another quiet one, in front of yet another three-day weekend in the US. Market mavens are lining up on the "inaugural sell-off" issue, with some predicting a big decline after Trump is sworn in, and others saying pshaw -- no way! Meanwhile, stocks hang in there and we're reminded of the old saying to "never short a dull market."
Asian stocks were mostly higher, European stocks decidedly higher, led by Fiat Chrysler, and the Global Dow gained 0.36%. The dollar sold off again, yielding its third week of finishing lower, at 101.23. Oil finished lower as well, on worries that promises to reduce production don’t always hold up in the real world. Crude closed at $52.51, down 1% on the day and 3% on the week.
Precious metals managed to close on the upside, along with most US stock indices. Gold added $2 to close at $1198; silver ... Log in or subscribe to continue reading.
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