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Richard's Thoughts on Optimism

Daily Recap

U.S. markets drifted lower today but remain on track for weekly gains. The driving force behind today's action appeared to be oil, which declined over 3% on renewed skepticism of an agreement to limit production.


Overall this week's action was heavily driven by the Fed and Bank of Japan decisions, and it would seem that we are not yet at the end of easy monetary policy.


The Industrials ended the day down 131 points, with the Transports, Nasdaq and S&P 500 all similarly lower. International equity markets also closed in the red, with Europe down about three-quarters of a percent and Asian markets down less. The Global Dow finished the day with a 0.44% decline.


Bonds gave back a bit of their gains with the 10-year Treasury now trading at 1.62%. The dollar rose slightly following two days of declines.


In the precious metals arena, gold gave up $3 dollars and silver declined 29 cents. Platinum also declined ... Log in or subscribe to continue reading.

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