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Markets Know Best

Daily Recap

Stocks were mixed overseas, with all but Japan's NIKKEI up in Asia, and most markets lower in Europe. The final tally was Asia Dow up 0.19% and the STOXX 600 down 0.16%, so we should judge the whole thing to be a push. In the US, stocks started off lower, the Dow losing nearly 200 points, but then gradually edged higher as the day progressed – only to fade towards the close. The big concern is currently over tomorrow's CPI report which, if too strong, will reignite fretting over inflation and higher rates.

 

Government bond prices lost ground overseas, but opened higher in the US. As stocks gained ground here, however, bond prices lost ground, as did the US dollar. At the close, bonds had once again rallied, with the 10-year note at a 2.825% yield. The dollar index closed down 0.4% at 89.69.

 

Commodities were thoroughly mixed, with beans, lumber, ... Log in or subscribe to continue reading.


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