It was another slightly unhinged day for US stocks today, following yesterday's yo-yo performance. The Dow opened about 100 points lower, rallied to 150 points higher, fell back to 50 lower, and will close ... where it will. One sure concern are rising interest rates, as the 10-year note fell another half point, its yield jumping to 2.775%.
Foreign markets embraced the volatility theme, as the Asia Dow was up 0.76%, led by strong manufacturing data for Japan, S. Korea, Taiwan, and Thailand. S. Korea also had a stronger than expected exports report. But meanwhile, the STOXX 600 was down 0.50%, with the German DAX falling 1.4% over bond weakness. Latin American markets were trading higher shortly before the close, though Canada's TSX was down quite a bit.
Despite the higher government rates being paid in the US, the dollar index sustained another hit, losing half a percent, to 88.67. The impact on ... Log in or subscribe to continue reading.
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