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My State's Better Than Your Country

Daily Recap

Stock prices were muted in early US trading, following nice gains in Asia and sideways action in Europe.  All participants were cautious ahead of President Trump's decision on staying with the existing Iran agreement.  Chinese (both mainland and Hong Kong) shares were smartly higher, behind news of an increase in that country's exports; the Asia Dow gained 0.42%, led by those markets.  In Europe, fear over chaos in Italy, after that country's failure to assemble a new government, took Italian shares down by 1.64%; the STOXX 600 finished with a 0.13% gain, however.

Crude oil sold off, after moving above $70/bbl. yesterday for the first time in 4 years.  Caution over the Iran situation was also cited there as a primary factor, taking black gold down over 3% at one point.  Precious metals took a hit, as the US dollar once again moved higher.  The buck was up 0.4% at midday ... Log in or subscribe to continue reading.

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