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Beating a Dead Horse?

Daily Recap

Today followed yesterday's lead as far as the US stock market goes: another quiet, mixed day partly based on concern over future earnings reports. Coming into the NY close, the Dow is up 25, the S&P 500 is down slightly. The NASDAQ is down 0.4%. Worldwide, it was a down day, with the Global Dow losing half a percent.

 

Good economic news on housing and jobs, while not moving stocks higher, has investors again thinking the Fed will raise rates before long. Treasury rates are unchanged to a little higher, but it's the US dollar that is really benefiting, with the dollar index up today to its highest levels in over 4 months. One currency that is really not up is Turkey's lira, with rising concerns about President Erdogan and his expanding purges.

 

Commodity prices are mixed. Meat prices are down a lot, hurt by that stronger dollar. Grains are mixed, though, ... Log in or subscribe to continue reading.


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