At-a-Glance
Today’s Top Highlights
Many markets are seeing selling pressure on the session today, including the U.S. equities, precious metals, and energy markets. CPI was released this morning, and the print came in at 2.7% while the expectation was 2.6%, and from there the markets began trading lower throughout the day before a steep drop right before the close. While the markets were lower, the S&P and Nasdaq still achieved a new all time high price on the session before selling off, and the market remains strong at these elevated levels.
Gold, Silver and Copper all saw price drops today as well with Silver leading the way lower being down near 1.5%. Silver had a strong move last week Thursday and Friday that sent the market into “overbought” territory looking at Relative Strength on a daily basis, and now traders are digesting the move with the selling to start this week. Tomorrow traders will see PPI numbers released along with more data points this week in anticipation of the Fed meeting at the end of the month.
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