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The Schizophrenic Fed

Daily Recap

Stocks were mixed as investors await Janet Yellen's speech in Jackson Hole on Friday. Low volatility and low trading volumes have marked the last few weeks of trading, with major indexes sitting just off their highs.


The Industrials closed down 23 points with the Transports confirming in direction. The Nasdaq managed to eek out a small gain and the S&P 500 was off just 0.06%. Internationally, stocks were mixed as well, with the GDOW flat for the day.


One of the biggest movers was oil, which fell 3.5%. Precious metals also fell, with gold down $3/ounce and silver down 46 cents. Miners also declined, with XAU down nearly 2%.


The dollar rose just slightly, as did Treasury bonds, causing the yield on the 10-year note to fall to 1.54%



The Schizophrenic Fed

By Matthew Kerkhoff


Central bank policy is center stage this week as the world turns its attention to Jackson Hole, Wyoming. The symposium hosted by the Kansas ... Log in or subscribe to continue reading.

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