At-a-Glance
Today’s Top Highlights
Looking at the equities and precious metals over the past few weeks, both have had a leader in terms of volatility, and those are the Nasdaq and Silver contracts. This continued today as the Nasdaq had another impressive day trading up over 2% and essentially erasing last week's losses in the last 2 days. The equities are finishing out the quarter on a very high note, with the S&P and Nasdaq having one of their best quarters in the last few years. Markets saw some selling pressure last week with some tech heavy names seeing falling prices, but the recovery so far this week shows the bulls are still controlling the market and are looking to re-enter when prices dip.
When looking at the metals, when the general direction is up or down, Silver has typically been most affected in either direction. Today is very similar as Silver led the metals higher while Copper and Gold both had a higher day as well. The metals are in a different position than the equities because of the heavy selling seen over the past 2-3 months, but seeing consistent strong moves like today could change that. The economic data today helped boost equities as JOLTs and PMI came in better than expected, and now all eyes will be on the unemployment rate Nonfarm payroll coming out later this week.
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