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Daily Recap

Stocks tally-hoed further to the upside today, adding to yesterday's big gains, although gains were concentrated mostly in the biggest blue chips. All major European and Asian markets rose, which makes the Europe Dow's decline of 0.15% seem odd, especially when the STOXX 600 gained 0.52%. The Asia Dow was more representative of its underlying exchanges – up 0.42%.

US stocks responded to continued good earnings news, led by Boeing, and the Fed's decision to stand pat for now on interest rate increases. On the sales and earnings front, about three-quarters of S&P 500 companies reporting so far have beaten expectations, making for a solid 2nd quarter in that regard. Energy shares were strong, on crude oil's 1.5% gain to $48.62/bbl.

Interest rates and the dollar were lower today. The US dollar index lost 0.60% to 93.54, its lowest price in 13 months. Bonds rallied, sending yields lower. The 10-year note ended with a ... Log in or subscribe to continue reading.


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