Traders are back after the long weekend. Sort of. Many take most of last week and this week off to be with family or otherwise catch a breather, so market movements continue, but under the cloud of light trading volume.
Some of last week's optimistic price gains were given back today. Oil, as it has been lately, is largely calling the tune. Crude is back down below $37 as heavy supply apparently isn't going away anytime soon. The precious metals and mining shares got a little too excited last week, and for little reason, That led to lower gold, silver, and mining share prices, which are down even more than energy markets today.
The dollar remains stuck in a sideways pattern. As for interest rates, we're seeing a bit more of a discrepancy between the short end of the market and longer-term rates. Despite the Fed's recent rate boost, mortgage rates are ... Log in or subscribe to continue reading.