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Will This Time Be Different?

Daily Recap

The US stock market's melt-up continued today, but with mixed participation from overseas exchanges. The latest reason for optimism centers on expectations for good earnings reports, just now starting to come out. But in Europe, a higher euro and concerns about the ECB's newly hawkish tone sent most shares lower – though the UK's FTSE scored new highs for the 2nd day in a row. The Asia Dow dropped 0.14%; there, winners included China and India, while Korea and Japan were down on the day.

US fixed income markets managed a small bounce, after positive results from the latest government bond auction. The 10-year note's yield dropped slightly, to 2.542%. The US dollar index took a hit, the flip side of strength in the euro. It fell to 91.89, nearing its lows of the past four months.

Precious metals and energy prices moved higher. Crude oil finished about unchanged, after ... Log in or subscribe to continue reading.

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