Challenges Confront Globalization
Stocks basically gave back yesterday's gains in the US due to unexciting earnings news, a big decline in consumer confidence, lower oil prices, and lower European share prices. Plus, concern over the election, now just two weeks away. Precious metals were in the plus column today.
The US dollar gained early, hitting new 9-month highs and aided by more weakness in the British pound. At the close, the dollar index was back down, closing slightly lower on the day, Near the close, bond prices are mostly higher.
Oil prices closed under $50 for the first time in a week, Interestingly, gold moved the other way, trading at 3-week highs. A few minutes before closing time, gold is up $10, with silver up 17 cents and platinum up $24. Mining shares are also having a good day, with XAU up over 2 points. The Dow Industrials are down 52 points, NASDAQ down 29, and ... Log in or subscribe to continue reading.
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