For the most part global markets edged higher to start the week. The exceptions were China's Shanghai Composite, down 0.16%, India's Sensex, down 0.24% and Japan's Nikkei down 0.37%. Other Asia-Pacific exchanges were higher, as was all of Europe.
In the U.S. stocks also gained with every major index other than the DJ Utilities in positive territory. Near the close the Industrials are up 128 points and the Transports are following suit, up 0.6%. The Nasdaq and S&P are up by similar levels.
Gold rallied modestly as the prospect of higher rates faded, and oil also rose on the back of supply outages. Gold is currently trading just under 1250/ounce, while light crude is just under 50/barrel.
The dollar strengthened slightly after a huge drop on Friday. Interest rates rose as bonds sold off. The yield on the 10-year Treasury is currently 1.74%
Pushing the Reset Button
By Matthew Kerkhoff
In recent weeks various Fed officials have ... Log in or subscribe to continue reading.