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Not Much Happened

Daily Rap 05-11-2018

The stock market was modestly higher through midday, led by the Dow for a change. In the afternoon, the indices weakened somewhat, closing with the modest and mixed results you see in the box scores.

Away from stocks, green paper was a little weaker, oil was flat, as was fixed income, and the metals were slightly lower.

Regretfully, there is not a whole heck of a lot to say about the markets. I will be gone next week and there are a whole host of interesting things that could happen: the stock market rally could fail, the dollar could turn, the metals could rally. We will just have to see what develops and I will comment on anything important that occurs when I return.

Housekeeping As a reminder, there will be no Rap from Monday, May 14, through Tuesday,...more

Last year's posts for Ask Fleck

Q: I don’t understand how rising treasury rates strengthens the dollar when it means that people are selling dollars (in the form of bonds). Is this just another example of the greed driven and idiotically distorted belief that EVERYTHING is just great (because that’s what political leaders tell us)?

Fleck: It is just speculation and positioning. Markets don't have to make sense every day, or even every month or year, for that matter.
(posted: 5/17/2018)

Q: Bill,

The Fed is making it clear that fighting a yield inversion is one of their priorities. They are getting their inflation, now what happens? What impact if any could this have on the price of gold?

Fleck: If that is what they are doing. But either way, gold is headed higher.
(posted: 5/17/2018)

Q: looked through search, no luck. any good suggestions for sourcing accurate insider activity?

Fleck: That's a good question. I don't follow that closely like I used to. Maybe a few readers have a favorite service?
(posted: 5/17/2018)

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