Loading ...usually moves markets and pm’s around a bit. They’ll be whatever the intended narrative wants it to be. I suspect if they are up, part of that may be the endless inflation we see every day, although gas in my area is now down to $3.18 a gallon for some unknown reason.
Somehow Bank of America came out with the highest earnings in the history of their company, although paper losses for things they hold are pretty ugly.
So, from the knee jerk reaction in pm’s I’m guessing the retail sales numbers were “better than expected” as they’ve sold them down a little, but not into negative territory yet, but it looks like that might be coming.
The dollar is jumping. Rates were already up 5 bips, so I imagine the 10 yr. is jumping as well.
The SM, especially the Nasdaq, doesn’t care for a stronger dollar or rates either. Oil flat. Bitcoin giving up some of yesterdays gains.
So far, pm’s and shares are bending, but not breaking just yet. Good to see, we want gold strong no matter what the dollar and rates are doing. We’ll see.