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Daily Recap

Stock prices were mostly higher around the world today, shrugging off yesterday’s big decline in the US. The Asia Dow was up a modest 0.28%, with the STOXX 600 gaining 0.16%.

US shares started the day strong, then flopped around until deciding to move sharply higher, up 300 Dow points. Then the Fed comments came out, indicating once again that rates need to go up more and, wham – no more 300 point gain.

Bond yields jumped, which aided the US dollar. The yield on the 10-year note hit 2.95%, before closing at 2.936%. That helped the dollar index, up 0.37% to 90.06. But the metals failed to benefit.

Gold was up a bit in the AM, but finished with a $5 loss, although silver gained 6 cents. Platinum fell $10, and XAU lost 0.30% to finish at 80.58. Copper was unchanged; crude oil dropped by 1%, to 61.15.

The selloff accelerated into ... Log in or subscribe to continue reading.

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