Hmmmm...Wall of worry indeed...
Chaotic flip-flopping headlines hit Spanish stocks today (and continued after the close)...
While Trannies had a big day, S&P and Nasdaq was very quiet...
Well that escalated quickly...
"Not" a record high... Trannies were worst on the day (not off the lows) but Boeing, Goldman, IBM, and Caterpillar weighed on the Dow. NOTE - Dow bounced off unch from Monday.
S&P futures are fractionally in the red while traders await President Trump’s pick for Fed chair and more clues on the fate of tax reform; Asian stocks slide, European shares are little changed ahead of tomorrow's ECB tapering announcement as US 10Y yields finally break out of their multi-month range below 2.40%...
Authored by James Rickards via The Daily Reckoning,
I just got back from a trip to Washington, or what I call “New Rome” because Washington’s relationship to the rest of America is the same as Rome’s relations with the agrarian and plebeian citizens of its vast domains in late antiquity.
Don't celebrate quite yet...
Thanks to MMM and CAT (150 of The Dow's 170 points today)...
The Dow is massively outperforming today...
And even more so on the year...