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Tectonic Shifts

Daily Recap

With no economic data released today, markets continued to digest the latest commentary out of Washington with a particular ear for Trump appointments and policy outlook.

 

The Industrials managed another positive day, though only by 21 points. The Transports fared much better, rising another 2.2%. Utilities and the Nasdaq were both in the red, each down roughly 0.4% at the close.

 

Destructive action continued in the bond markets where Treasury prices fell again and yields surged. The 10-year is currently at 2.24%, significantly higher than just a few days ago. The dollar also ticked up, notching its 6th consecutive day of gains.

 

Overseas markets were mixed. Europe's Stoxx 600 gained 0.3% while most of Asia (with the exception of China and Japan) saw modest losses. Emerging markets fell further, primarily a result of continued strength in the dollar.

 

In the precious metals arena gold extended its decline, falling $2.60 an ounce. Silver fell 49 ... Log in or subscribe to continue reading.


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