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See-saw Action Continues

Daily Recap

Confusing see-saw action continued today, at least in the U.S., where stocks are higher - mostly. Asian stocks merely carried the U.S. trend forward from yesterday, with Japanese stocks down a harsh 3% and China's Shanghai index down a more civilized 0.4%. Europe, in turn, took the ball from there, as both British and German exchanges lost about 1.5%. One area of foreign stocks doing very well were the emerging markets, at least as traded in the U.S. EEM, recommended yesterday, was up a smart 2.5% today.

But as Donald Trump makes clear, it's all about America. Just kidding - on my part! Anyway, U.S. stocks perversely took encouragement from weak retail sales numbers in the morning, yet more evidence that the Fed will put further interest rate hikes on hold. The 10-year Treasury yield hit a year-long low, in turn dragging the dollar down with it.

In the U.S., the Dow Industrials look to finish up ... Log in or subscribe to continue reading.

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