At-a-Glance
Today’s Top Highlights
The Russell is leading the equity markets higher today seeing slight gains along with the S&P, while the Nasdaq is trading right near unchanged or slightly negative. With the uncertainty of the Fed’s interest rate decisions looming for the second half of the year, traders are continuing to see the volatility follow the small cap stocks in the Russell while the S&P and Nasdaq are going back and forth between all time high prices. Initial jobless claims came in better than expected today which wraps up the significant economic data prints being released for the week in the U.S.
Looking at markets at or near all time high prices, the Silver market had a strong move to the upside today with Silver trading up over 2% on the session. As mentioned in previous reports, Silver is seen as more of an industrial metal than Gold, similar to the way Copper is looked at by many traders. With the tariff uncertainty and the news regarding Copper this week that drove prices higher, there may be growing supply concerns with the tariff policy that has sent Silver up over the $37/oz mark. This will be an interesting market to track over the next few weeks as the relative strength index on a daily basis is still trading in a “neutral” zone.
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