At-a-Glance
Today’s Top Highlights
There was some good back and forth price action across asset classes this week, and the precious metals were able to have a strong finish with Silver trading up over 6% today to its highest level of the week. Along with Silver, Gold, Copper and Platinum also traded higher today and were able to finish the week on a solid note as they try and claw back from the aggressive selling seen in January. Chicago PMI and PPI both came in better than expected today, and the Dollar traded lower again today as it continues in its own sideways pattern seen over the last few weeks.
The equities finished the week lower today led by the Russell trading down near 1.7%, and the S&P and Nasdaq story seems to be getting less similar to the Russell as time goes on this year. Both the S&P and Nasdaq traded up in their respective ranges toward the 50-day moving average on a daily basis and rejected those levels and sold lower, while the 50-day average for the Russell is acting as a “floor” in the market. Although both are equities, these markets can trade differently and at different speeds, and Fed decisions and actions could have a large impact on those prices.
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