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The Strong Dollar Trend Appears to be Over

Daily Recap

After two consecutive days in which the Industrials, S&P 500 and Nasdaq all set new all-time highs, two of the three averages backed off. The Industrials climbed 45 points to set another new closing record at 22,203, but the S&P 500 fell 0.11% and the Nasdaq fell a further 0.48%.

 

Overall it was a rather muted day of trading as the averages shifted between small gains and losses for much of the day. The same mixed trading was seen overseas, where the STOXX 600 ended the day up 0.12% but the Europe Dow declined 0.39%. Most of Asia was in the red, with the exception of India's Sensex, up 0.17%. The Asia Dow fell 0.59%.

 

Bond trading was also choppy, with muted price moves. The 10-year Treasury note climbed 1/32 to yield 2.19%. Meanwhile, the dollar index fell 0.37%, right back down to the 92 level.

 

The weaker dollar seem to help oil, ... Log in or subscribe to continue reading.


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