Mike’s Morning Brief: A fast-break rundown of what’s going on.
Market opened in the red, taking a breather after a powerful move since the election. The DOW has been up 7 consecutive days, leading the charge. It was down 7 straight before the election. It has not been a broad based move, as evidenced that Tech has been a big laggard since Trump won. But yesterday was as close to a broad based really as we’ve seen. We see more of that ahead. Global Markets were lower overnight. Interest rates are ticking up again with the 10-Year Treasury yield thru 2.2%. Crude rallied big time yesterday, providing a big spark to the Bulls. It’s giving some of it back today. Gold is slightly lower too in early trading. When you take a step back and think about what has transpired in Washington and the reaction to it, this is quite remarkable. There is nothing Bearish about hitting new, all-time highs.
Have a great day.