US stocks followed world markets and oil prices lower, in the latest move away from risky assets. The Global Dow dropped 0.79%, and crude oil, after an early rally, declined to the mid-$39 area.
The US dollar index also gave ground, down 0.70%. Earlier, Treasury yields hit 1-week highs over inflation fears.
That, and/or other factors, kicked the precious metals back in gear. Nearing the close, gold is up $12, silver up 16 cents, and platinum is $9 higher. XAU is up 1.5%, while the stock market is down 0.70%, per the S&P 500.
Recession or Rejuvination?
By Jon S. Strebler
Events last week take me back to my previous column's idea of buyers and sellers, with only one of the two being ultimately right. On Friday, MarketWatch.com featured Frank Cappelleri's observation that the S&P 500 is set for an explosive move upward, following something it hasn't done in 40 years. That "something" is trading ... Log in or subscribe to continue reading.