Richard's Thoughts On Taking Action
Stocks consolidated (dipped a bit) in the US today, as they did in overseas markets. The Asia Dow dropped by 0.15%, while Europe was harder hit, as the STOXX 600 fell 1.02% and only the UK market lost less than 1%.
The US dollar fell again, as the euro rose to 2-year highs despite the ECB's Mario Draghi's latest policy comments. The dollar index finished at 93.94, down 0.38%. Government bonds were mostly higher worldwide, meaning lower yields. The US 10-year T-note rose 5/32, its yield falling to 2.242%.
In commodities, crude oil had a tough day, even as the precious metals were strong. Oil fell on expectations on an increase in OPEC daily production by 145,000 barrels in July; the futures finished at $45.65/bbl., down 2.7%. Yet gold had another good day – up $10/oz. on a weaker dollar and who knows what other expectations. Silver popped by ... Log in or subscribe to continue reading.
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