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Richard's Thoughts on Bull Markets and Corrections

Daily Recap

Stocks started off in the red today, and despite a midday rally in some averages, closed mostly lower across the board. The one exception was the Russell 2000 small-cap index (up 0.40%), which is widely seen as a primary beneficiary of lower corporate taxes.

 

Other than small-caps, most major indexes lost ground. The Industrials shed 100 points, the Transports declined 110 points (1.15%), and the S&P 500 declined 0.26%. Even the Nasdaq and the Utilities were unable to close above the even line, falling 0.15% and 0.80%, respectively.

 

Overseas markets diverged today, with all of Europe in the red and just about all of Asia in the green. The Stoxx 600 fell 0.29% while the Asia Dow rallied 0.28%. In the Americas, all major markets were in the green with Chile's market leading the way, up 1.45%. Overall, the Global Dow Index climbed 0.10%.

 

Fixed income markets rallied once again, as the entire yield ... Log in or subscribe to continue reading.


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