Daily Market Recap
The S&P 500 was off 1.2% and the Dow was .94% lower on the day. The market attempted to rally after the big sell off yesterday. Profit taking took place after the initial move higher and the market sell-off was grinding and the averages closed on their lows.
Treasuries rallied as more risk was taken off the table today. The Treasury auctioned $16 billion worth of 30-year bonds.
Commodities were stronger across the board as precious metals, copper, grains, natural gas and crude were all ahead of the market. Gold and silver closed at their respective highs of the day.
There was actually some good news on the international front today. The statistics chief for China “hinted” that the data released for October will make investors more confident on the country’s growth outlook.
The Dow, NASDAQ and S&P 500 are all now trading below their respective 200 day moving averages.
Source: PFS Group
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