Good news, bad news today. Personnel chaos continues in the White House, with the Secretary of State out, along with the President's body man. But the good news is that stocks don't seem to much care. Or they didn't at the open, anyway.
Asian markets had been modestly higher (before the news), as the Asia Dow gained 0.30%. In Europe, stocks were mixed before the news, but then sold off, the STOXX 600 losing a healthy 0.98%. In the US, stocks opened higher, ran up even further to register a 200 point Dow gain, then gradually sold off. Notably, the NASDAQ, which has resisted all downward pressure in recent days, was again solidly higher, but this time it followed the other indexes when they sold off.
In the precious metals, the picture was more or less the opposite. Gold was down slightly, but then rallied strongly on the White House news. ... Log in or subscribe to continue reading.