At-a-Glance
Today’s Top Highlights
There was little movement across asset classes today as volatility was low relative to the week of trading. The start of the day to the upside was the equity markets which was led by the Nasdaq trading higher by about 1.8%. Both the S&P and Nasdaq traded to a new record high on the day while the Russell was only marginally higher on the day and is a few points below its own record high level. All three of those indices remain in technically “overbought” territory and still were able to see strong gains on the day and throughout the week with some of the help coming from the economic data and positive earnings reports this week.
Outside of the equity markets, the rest of the asset classes were a mixed bag. The precious metals saw mixed results with silver leading those markets higher, and the 50-day moving average is still acting as a temporary “ceiling” in these markets. Crude Oil futures slipped slightly today but had a strong week of trading higher, finishing the week up nearly $7/barrel. The 50-day moving average is also a strong level for the Crude market as buyers stepped in as the market traded below that level, and prices have tested and remained out above that level for the week.
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