As expected, today was a pretty ho-hum affair with market participants increasingly heading for the holiday exits and little in the way of significant news. European banks were weak, led by concerns about those in Spain and Italy. London's FTSE declined, after 4 days in a row up. Asian equities were mixed on the day.
Bonds gained a little, with the 10-year T-note finishing at 2.541%. Crude oil faltered, dropping to $52.49, even as natural gas climbed higher. The US dollar dropped to just below 103, down 0.3%.
At the close, the Dow was down 33 points, the NASDAQ down 12 and a half, and the S&P dropped by 5 and a half points.
The precious metals finished lower, after a failed rally. Gold lost $1 to $1131, silver lost 16 cents, and platinum gave up $8.
Just an observation: Commentary on mainstream financial media is almost ridiculously bullish: "Don't sell at 20,000 - the ... Log in or subscribe to continue reading.
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