Where Were You 30 Years Ago This Week?
Well, mark another strange one down in the books. Foreign stocks set the stage for an October 19th (happy birthday to me!) redux of 1987's crash. The Asia Dow fell 0.16%, then selling picked up as the STOXX 600 fell 0.63%. The US Dow opened down 100 or so, then...
Gradually rallied higher, even as broader US indexes were solidly down. By the close, the Industrials were up several points, the S&P managed to edge just above the unchanged mark, with only the NASDAQ closing lower – down 19 points
Fixed income assets rallied, leaving the 10-year T-note with a 2.323% yield. The buck gave up more ground, with the dollar index falling 0.28% to 93.13.
Precious metals finally put together a good day, as gold rallied $7. Silver gained 25 cents, and platinum bumped up just $2/oz. Representing the miners, XAU gained just 0.55% to 85.54.
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