Richard's Thoughts ... What's New With the PTI?
US stocks traded around the unchanged mark for most of the day, following one day of huge gains and another of big declines. Asian stocks had been down overnight, and European shares followed with tiny declines -- the STOXX 600 down just 0.1%.
Bond prices performed similarly, in the face of even more evidence of a Fed rate hike this month. They traded either side of unchanged during the day, and finished that way too. The 10-year T-note yield was 2.46% at NY closing time.
The US dollar was down rather hard, especially vs. the Mexican peso after the new Secretary of Commerce underscored the importance of a trade deal that benefited Mexico as well as the US. The US dollar index lost 0.78, to 101.35.
At closing time, about 4 stocks were lower on the NYSE for every 3 that were higher. The Industrials finished a mere 3 points higher, compared to ... Log in or subscribe to continue reading.
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