And the beat goes on... The US stock market closed sharply higher yesterday, so of course it opened sharply lower today. The Dow Industrials were down nearly 500 points (!!!) in the first few minutes of trading. But a couple of hours from closing, they are unchanged on the day. Mindless volatility seems to be the most accurate cause, though the daily babble is about trade war this, trade war that. Whoooeeee!
Foreign markets were lower before the NY opening, on once-again heightened trade war fears. The Asia Dow lost 0.72% and the STOXX 600 fell 0.47%. Interest rates were about unchanged, after good gains in the morning session. The US dollar index is similarly quiet, up a mere 0.03%.
Precious metals got jerked around by the stock market all day, as if they had zero fundamentals of their own. Dow down 500 points? Gold and silver soared – up $18 and 29 ... Log in or subscribe to continue reading.
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