Today was about resilience, and the persistence of near-term trends. Oil sold off rather sharply early in the day, as did energy stocks. Ditto for gold and the mining shares. But approaching the close, energy stocks, per XLE, were down less than 1/2%, and XAU is actually up for the day. Gold is trying to register the same.
As for the overall market, Asian and European stocks ranged from up a bit to (mostly) down a bit, with no big feature. The Global Dow index lost 0.87% today. With mixed reports on US retail sales, wholesale prices, manufacturing, and home construction, most American eyes were on oil and also tomorrow's decision on interest rates from the Fed. US stocks, down all day long, are closing near their highs of the day, with the Dow toying with actually printing a positive number.
The mining shares and US stocks in general are running on ... Log in or subscribe to continue reading.