Today's action can probably best be described as a relief rally, as fears eased over North Korea and Hurricane Irma. Regarding N. Korea, many analysts expected to see another missile launch on Saturday to mark its founding day. When that didn't happen, and Hurricane Irma didn't turn into a worst-case scenario, markets rallied.
The Industrials added 260 points (1.19% gain) to close above 22,000 for the first time in nearly a month. The Transports did similarly well, up 1.07%, while the Nasdaq added 1.13% and the S&P 500 gained 1.08%.
Overseas markets were also unanimously in the green, with the STOXX 600 up 1.04%. In Asia, major exchanges did well, with the Shanghai Composite up 0.33% and Japan's Nikkei up 1.41%. The Global Dow rose a hefty 0.90% ... a good day for stocks, indeed.
However, the relief rally didn't provide much relief for fixed income and precious metals investors, as those two ... Log in or subscribe to continue reading.