Richard's Thoughts On Elections
Stocks finished mostly higher in the US today, after spending most of the day in the red. That, in turn, followed mostly lower stock prices in Asia and Europe, with Britain's FTSE index down 1.5%.
Early weakness in US share prices followed lower oil prices and disappointing earnings from some retailers. In the end, the Dow Industrials added 39 points, the NASDAQ was up 28 points, with the S&P 500 down 3 points. This was the best week for the market in 5 years, as the Dow finished at new all-time highs for the 2nd day in a row.
The big news was a collapse in precious metals prices. Gold fell $32, silver lost a buck and a quarter, and platinum dropped $33. The main culprit seems to be higher interest rates now and the prospect of much higher rates in the future, as the Trump administration seems committed to extensive spending ... Log in or subscribe to continue reading.
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