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Richard's Thoughts on Understanding Values

Daily Recap

A number of statistics came out today, with mixed messages.  But the US stock market's been stronger all day, even if it's near its lows as it approaches the closing bell - so mostly folks were OK with what they heard.  


Three big banks came out with stronger than expected earnings, lifting hopes for a good quarterly earnings season.  US retail sales rose by 0.6%, a sign of consumer confidence that was directly countered by the lowest consumer sentiment number in a year!  And US producer prices rose 0.3%, perhaps a sign of stronger inflation numbers to come. 


Stocks were also higher in Asia and in Europe, with the STOXX index up a healthy 1.5% and the Global Dow index up 0.5%.  Treasury prices fell as yields rose, and the US dollar was once again headed higher, closing at new 7-month highs and completing the triple-top breakout shown on Wednesday. 


The sad loser again today was gold, which has failed ... Log in or subscribe to continue reading.

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