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These Pipeline Plays Are Turning Around, And Yield 5%

Daily Recap

Fireworks hit the markets today, largely a result of the Fed's decision to scale back interest rate hikes from four to only two this year. Markets were caught a bit off guard by the extent of the Fed's dovish approach, and nearly everything except the dollar took off.

Earlier in the day, European markets more or less regained yesterday's losses. But the real action was in the US, after the Fed's announcement. The US dollar sank 1% at the prospect of lower-than-expected interest rates for the year. Commodities soared, while US stocks didn't fare too badly themselves.

Gold, down a few bucks in the morning, is on track to close $26 higher than yesterday in NY, with silver up 35 cents and platinum up $20/oz. The mining shares, as measured by XAU, reversed themselves as well, looking to finish up 7% and at new yearly highs.

Energy shares were big gainers, building on a ... Log in or subscribe to continue reading.

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