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The Yield Curve ... A Good Indicator or Not?

Daily Recap

US stocks staged another day of schizo trading, with the Dow Industrials and Transports charging higher, while the S&P 500 and NASDAQ got beat up. The big news today was Facebook's historic collapse - down 19% or $120 billion-with-a-B in market capitalization in just one day. Yet overall, US share prices were higher, with NYSE winners beating losers by 1,740 to 1,219 issues. That's not because of interest-rate proxies on the NYSE, as bonds were about unchanged on the day.

How about the back story? Well, Asian shares were mixed, with Japanese and Chinese shares mostly lower, but gains in Indonesian, Korean, Indian, and Singapore shares countering. The end result: the Asia Dow gained 0.14%. In Europe, nobody took the punch bowl away, and celebrating over an apparent trade agreement with the US gained added steam from a lower euro. The German DAX, up 1.83% and at a five-week high, led ... Log in or subscribe to continue reading.

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