Stocks are mostly wandering aimlessly today, after initial gains from a stronger than expected jobs report. Perhaps the most interesting feature of the day (and week) is that given the market’s short-term overbought status and the potentially explosive situation in eastern Europe, stocks are basically holding steady. Obviously, investors (outside of Russia) are not too worried about Ukraine, or else all the major indices would not be holding close to all-time highs. Yellen this, Fed that – none of it seems of much real import. Absent any surprise calamities, this implies higher prices again next week and perhaps further than that. I’ll write about this more in next Tuesday’s column.
This blasé attitude regarding Ukraine shows up in the precious metals as well, just lollygagging around and not building on previous gains. One area of possible interest is palladium, which is benefitting from uncertainties in its two main source countries: South Africa ... Log in or subscribe to continue reading.
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