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Where Have All the Flowers Gone?

Daily Recap

US stock prices wobbled after five days of gains, as tax reform passage fears overpowered optimism from good economic data. Better than anticipated news hit today on November’s retail sales, jobless claims and the latest PMI report. Still, health care issues led the Dow lower, which dragged other indexes with it after a strong morning session.

Foreign markets were mixed, with the Asia Dow up 0.3% and the STOXX 600 down 0.46%. The tie breaker was the Global Dow, up an unconvincing 0.04%.

Fixed income markets were mostly higher, junk bonds excepted as they mirrored the decline in US stocks.  The yield on the 10-year note fell slightly, to 2.35%. The US dollar regained some of yesterday’s loss, up 0.10% to 93.53.

Precious metals were losers, except for very strong palladium and rhodium. Gold fell $3, silver fell 16 cents, and platinum lost $6/oz. XAU dropped by 0.4% to 79.65.

The Dow Industrials ended by closing ... Log in or subscribe to continue reading.


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