Global markets took a rest day today, settling lower across the board. Indexes in Europe and the Asia-Pacific all lost between half and one percent. In the U.S. we followed suit, where the Dow Jones Utilities were the only major index to close in the green.
The Industrials spent most of the day down around a hundred points but a late day "rally" took them higher to close down only 26 points. The Transports declined 1.2% while the Nasdaq and S&P 500 posted minor losses of about 0.2%
Gold added around $10/ounce while silver rose about $.10 cents per ounce. Oil fell slightly as did the U.S. dollar.
There was little economic news out today, but this will be a busy week. Aside from earnings reports from a number of key companies, we have an FOMC meeting that begins tomorrow and a host of market-moving data due out later in the week.
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