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Daily Recap

Well, the "melt-up" idea has certainly gained currency this week, with the Dow gaining about 250 points Tuesday, 104 points Wednesday, and what looks like some 300 points today. The rest of the world isn't really participating in this big rally, as it is based primarily on renewed optimism over federal tax reform passing this year. In any case, the Dow sliced through yet another thousand mark like it was melted butter, yet oddly enough, market breadth wasn't all that hot.

In Asia, Japan's NIKKEI gained 0.57%, but every other market was lower. That left the Asia Dow with a 0.78% loss on the day. In Europe, most markets were also lower, resulting in a 0.33% loss in the STOXX 600. Canada traded higher with US stocks, the TSX up 0.67%, while the Latin markets were lower on the day.

Governments and most other bonds were lower in the US, which obviously was enjoying a ... Log in or subscribe to continue reading.


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