Asian equities closed yet again mixed overnight; 7 of the markets we track in the green, 9 in the red. Europe, on the other hand, is yet again beginning the day in impressive fashion; 16 of the 19 markets we track presently trading higher. US equities are nicely higher across the board this morning: Dow up 260 points (+.94%), S&P 500 up 1.27%, Nasdaq up 1.63%, Russell 2000 up 0.79%.
The VIX (SP500 volatility) is getting crushed, -7.78% to 22.22. VXN (Nasdaq vol) is supporting this morning’s rally thus far as well, -6.65% to 29.75.
Oil futures are up 1.61%, gold’s are up $2, silver’s down 1% (futures that is, spot price is up), copper’s down -.61% and the ag complex is mostly green as I type.
The 10-year treasury is trading lower (yield higher) and the US dollar index is off by -0.11%.
Our core portfolio is off to a decent start this morning; up 1.05% as I type.
I’ll circle back a little later with our weekly message. In the meantime here’s Popular Delusion’s Dylan Grice on what he thinks investing is “about”.
“Everyone thinks investing is about being smart. its more about being different.”
I agree, although I’d add objectivity and humility…
Have a great day!