Dow 30

One day after the dollar slumped sharply on initial disappointment with the GOP tax plan, the greenback has rebounded ahead of a nonfarm payrolls report that is expected to show the US economy gained over 300,000 jobs in the post-hurricane rebound, and as investors reassessed the latest news on U.S. tax-cut plans. Stocks in Europe and Asia advanced, US equity futures were as usual in the green, while oil headed for an eight-month high on signs OPEC will agree to extend supply cuts.

US equity futures have hit a new records, helped by surging Asian and European stocks which have all started November on a euphoric note. Surging commodity prices, optimism about tax reform and hope for a new dovish Fed chair all combined to drive global stock markets to record highs on Wednesday, with the MSCI’s world stock index climbing 0.3% to a fresh all time high. Mining stocks lead gains as nickel and other industrial metals soar.

International equity markets seem to effortlessly surge to brand new record highs with each passing day.  As we note fairly frequently, declines have grown shallower over the past two years and the S&P 500 has now gone 246 trading days without trading more than 3% below its record high, the longest streak ever for the index, according to LPL Financial. Meanwhile, the S&P hasn’t had a decline of 10% or more from a recent peak since February 2016.

By the SRSrocco Report,

As the U.S. Stock Market Bubble continues upward toward a giant pin, there are some interesting developments that precious metals investors will find quite interesting.  Yes, there's still a lot of life left in the precious metals, even though pessimistic market sentiment has frustrated a lot of gold and silver investors.

Overheard on CNBC today... "today we get proof this is not a bubble..."

Nope..

h/t @Stalingrad_Poor