Today was what you could call a reversion-to-the-mean day. That is, the unloved areas of the market finally got some love (utilities, REITs), while top performers sat around and digested their gains.
Stocks overall moved higher, with the Industrials tacking on 40 points to close at 19,883. Transports were the outperformers today, up 0.7%, while the Nasdaq and S&P 500 gained 0.37% and 0.2% respectively. International markets didn't fare quite as well with most of Europe and Asia slightly in the red.
Treasury bond prices finally ticked higher for a change, bringing the yield on the 10-year note down to 2.54%. The dollar did what it seems to do best these days, rising 0.13% to 103.06.
Precious metals action was mixed with gold rising $5, silver slipping 13 cents, and platinum falling $16. Mining shares bounced between gains and losses before eventually closing up 0.16% (per XAU).
By Matthew Kerkhoff
The market’s relentless push higher has made ... Log in or subscribe to continue reading.