Richard's Thoughts On the PTI
Markets breathed a big sigh of relief, as relatively bad news on the employment front adds to earlier concerns in the week about the health of the US economy. That, in turn, lessens the Fed's likelihood of a near-term hike in interest rates -- at least, until the next spate of news turns us back the other way yet again. But this day, this week -- stocks got a boost, with European stocks up 2% to their highest level in 4 months. The Global Dow added 0.6%.
Bonds reacted lethargically, finishing about unchanged from yesterday. The dollar, down early in disappointment over the lesser chance of higher US rates, rallied through the session, with its index compared to other major currencies finishing up 0.23%
Along with stocks, precious metals also had a good day. Gold gained $11, silver 52 cents, and platinum was up $16. XAU added 3.4%. Just before the close, the Dow ... Log in or subscribe to continue reading.
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