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Richard's Thoughts ... Spotlight on the PTI, Again

Daily Recap

US stocks battled all day long to limit their losing streak to 8 consecutive days, thus avoiding a 9-day losing streak, not seen since 1980. Mostly positive news on jobs, including the best increase in wages in 7 years, provided a supportive background. On the other side was the performance of European stocks; the STOXX 600, down 0.8% on the day, has seen the biggest losing streak in 9 months based mostly on concern over the US presidential election.

Gold, on the other hand, looks to finish with its fourth week in a row of higher prices. Shortly before the close, it is up a dollar an ounce; compared to silver, up 4 cents and platinum, up $4. Mining shares are mostly a bit lower, with XAU down 0.35.  

Bond prices were mostly higher, with the key 10-year Treasury yielding 1.78%. The dollar traded slightly lower, its index at 97.03 coming into the close.  

 

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