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The Taxonomy of a Bear

Daily Recap

In a rather uneventful day of trading, most major markets around the world were little changed. Europe trended slightly into the red while most Asia-Pacific markets ended the day in the green.

 

With little economic news out today, traders in the U.S. were left reacting to last Friday's strong jobs report. Building on last week's momentum, all major U.S. averages ended in the green with the exception of the Nasdaq Composite, which fell 0.19%.

 

Oil was the big winner for the day, rising nearly 6% and touching the $38 mark. This represents a 45% increase from the lows established last month. Other commodities did not fare as well, with gold and silver both losing about a quarter of one percent.

 

The dollar eased while the yield on the 10-year Treasury climbed above 1.9%.

 

The big event this week is the ECB meeting on Thursday. It is expected that Draghi will come out with more stimulus, perhaps taking rates further ... Log in or subscribe to continue reading.


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