I Know What My Mentor Would Say
Markets mostly reverted to their old post-election routine. Markets opened unchanged overall in Asia, up 0.63% in Europe's STOXXS 600, and about unchanged in the US. But once again, buying pressure gradually lifted prices higher, where the indexes closed today. The Industrials added 37 points, the NASDAQ 39 points, and the S&P 10 points. The Transports were also up 42 points -- making it an across the board winning day.
Positive influences included stronger oil prices, soaring housing starts, and the best jobless numbers since 1973. Fed Chair Janet Yellen's comments to Congress added to the near-certainty of a rate hike next month, which at this point is of little concern, given what rates have done in the marketplace.
The dollar zoomed higher again, closing in on the 101 level that would suggest its strength won't be disappearing soon. Not surprisingly, bonds took another pretty good body blow, with the 30-year Treasury ... Log in or subscribe to continue reading.
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