Much of today's market action came on the heels of yesterday's meeting in Doha, in which no agreement to limit oil production was reached. The news triggered declines overseas, but markets regained their strength as the day went on. More on this in today's article.
All major averages in the U.S. posted gains. The Industrials rose over 100 points, touching the 18,000 mark, while the Transports rose 0.3%. The Nasdaq ended the day up roughly half a percent while the broader S&P 500 tacked on a bit more.
On the precious metals side, there wasn't a whole lot of action. Gold lost a couple bucks and silver lost a few cents. Miners for the most part stayed flat as well.
The only economic news out today was the Home Builders' Index. It came in at 58, signaling continued, steady expansion.
Earnings Yield Suggests Stocks Are Cheap?
By Matthew Kerkhoff
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