"Generally, since we are still in a bull market, in a day where we have no bad news, we’re going to see the market drift higher.” That's today's comment from Randy Frederick of Schwab, and it pretty well describes the situation. Stocks started the day off higher, and stayed that way until the close. The Asia Dow rose 0.69%, and most European exchanges were moderately higher.
US economic strength, again confirmed, is adding to upward pressure on interest rates and pushing fixed income prices lower. The 10-year note is again challenging the 3% level, closing with a 2.971% yield. The US dollar index drifted lower nevertheless, finishing at 93.68.
Precious metals were mostly higher, though gold took a dip at the close. It finished down a dollar; silver, however, shot up 17 cents, and platinum added $4. Copper had another strong day, gaining 1.42% to finish at $3.239/lb. Crude oil once again stumbled, ... Log in or subscribe to continue reading.
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