Pound at 168 Year Lows and Global Markets on the Edge
Daily Recap
China grabbed the headlines early, pushing Asian and European shares lower. News of slumping exports (down 10%) added to jitters about the world's 2nd (or 1st?) largest economy. That piggy-backed on worries about US firms' earnings, with analysts hoping the S&P 500 companies can turn things around there after five quarters of negative growth.
Oil prices were down early, but up 30 cents/bbl. coming into the close. Bonds were mostly higher, as weak Chinese trade data made the safety of bonds more attractive. The dollar finally took a breather, and is down almost half a percent against a basket of other major currencies.
The precious metals are mostly up, but only slightly so - worrisome considering how oversold they've been and the fact that the dollar is down today. Gold finished $3 higher, silver up 2 cents, and platinum down $6. The miners did OK, with XAU up 0.8%.
At the close, the Dow ... Log in or subscribe to continue reading.
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