Foreign stock markets took yesterday's big decline in US shares in stride today. The Asia Dow dipped a modest 0.18%, while a strong performance by Germany's DAX, despite a negative business sentiment report, led the STOXX 600 higher by 0.51%. US shares opened higher, and stayed that way throughout the day.
The US dollar index gained as well, up 0.56% at 90.41, and bond yields also rose – both in anticipation of an upcoming rate hike by the Fed. The 10-year note's yield stands at 2.885%.
Those factors didn't help the metals. Gold slipped $6, once again in position to challenge key support just above $1300. Silver dropped by 13 cents, platinum by $11, though copper was up just fractionally. Weakness in the mining shares was mitigated by a strong stock market, so XAU fell just 0.65%. Crude oil went the other way, with a big 2.16% gain based on rising tensions ... Log in or subscribe to continue reading.