At-a-Glance
Today’s Top Highlights
Starting off the day, the equity indices saw some significant selling pressure with the S&P, Nasdaq and Russell trading lower by nearly 2%, and finishing out the day were o slightly positive. There is still a lot of uncertainty surrounding the Middle East tensions and the approaching deadline for a deal by tonight, and markets are moving based on peace talks, which is adding a lot of intraday volatility across asset classes. The S&P and Nasdaq are both trading below their 200-day moving average and that is currently acting as a near term “ceiling” in the market until we can see some conviction out above that level.
As the equities were finishing the day positive, the precious metals were also able to carve out some gains today with Gold trading up about 1% and Silver trading up near 0.5%. The dollar did slip today as the Euro traded marginally higher helping boost the precious metals. Looking at the Crude Oil market, prices saw pretty strong volatility due to the tensions in the Middle East mentioned earlier, but by the close the market was trading lower by about 1% after seeing near 5% gains to start the morning. There will be more news about this throughout the week along with GDP and CPI being released later this week which could add additional volatility across the board.
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