Richard’s Thoughts on the Most Famous Market Calls in History
European stock markets were quietly mixed today, but strength in Asia and the US was enough to send the Global Dow up 0.54%. Both Chinese and Japanese exchanges were higher, with China being the star. (Our recommended FXI recorded new yearly highs.) To the south and to the north of us, stocks were mostly lower.
But in the US, a change of heart on tax reform boosted shares from the get go. From "no way" to "a good chance this year," sentiment on this key issue has changed almost overnight. A thoroughly ho-hum address from Fed Chair Yellen didn't have much impact, other than boosting bond prices somewhat.
At the closing bell, the Dow Industrials were up 31 points or 0.15% - their lows of the day, as the Dow had been up over 100 points earlier. The Transports hung onto their big gains - up 112 points or 1.25%; the S&P 500 rose ... Log in or subscribe to continue reading.
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