A few earnings disappointments, along with oil's sixth straight day of lower prices, kept US stocks on the defensive today. Elsewhere, world stock markets traded mostly lower, though modestly so.
Oil, now down 20% from its recent highs, traded at the $41 level. Energy shares such as our recommended XLE and CVX are down also, though not so much, and may be good buys now for those under-weighted in that sector.
The dollar and bond prices are about unchanged today, with no big stories to move them. Similarly, the precious metals aren't doing much after yesterday's blockbuster moves. Platinum had the largest single-day run in 4 years; palladium the biggest jump in 7 years. Today gold is down $4, silver down 17 cents, platinum $2 lower, while XAU is actually up slightly as we cruise into the close.
Also near the close, the Dow is dead flat on the day, despite modest advances in both ... Log in or subscribe to continue reading.
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