Overnight the financial markets were largely uneventful, though that wasn’t the case for commodities (more about that below). As for our stock market, the early going saw the indices modestly higher, with the high-priced (i.e., valuation, not absolute), momentum-oriented, “growth-y” sorts of names driving the Nasdaq.
The early strength led to a bit more and the Nasdaq gained about 0.5%, with the Dow/S&P lagging until the last hour, when the rally fell apart and the market closed flattish. Away from stocks, green paper was mixed in rather dull trading, oil lost a percent, fixed income was lower, but, as I noted, the real action was in the commodity complex.
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