Markets Flat, But Dollar Gets CRUSHED: Here's What You Need To Know

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A sleepwalker from start to finish.

But first, the scoreboard:

Dow: -16
NASDAQ: +3.77
S&P 500: -0.44

And the top stories:

  • The big story overnight was the victory of anti-stimulus PM Kan over his anti-stimulus rival. On the news the yen surged, as did JGB. Overall though, markets were quiet.
  • And the markets were basically quiet in quiet in Europe, although there were weak production numbers and weak sentiment numbers.
  • In the US the big news was strong retail sales, which really did very little to move the market. Don’t miss: 11 signs that the double dip is dead >
  • Basically, the big action of the day was not in stocks, but in everything. If you weren’t the dollar you were in good shape, as bond, foreign currencies, and precious metals all had monster days. The yen and gold both hit new highs.

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