The markets remain extremely quiet this morning, with nothing moving very far from unchanged. So let’s look at 3 charts catching our attention.
First, an old standby. The S&P priced in gold. It’s starting to show legs. Not massively or anything, but it’s definitely had a good month, and is way up from its summer lows.
Next, the S&P priced in copper. It’s now at an all-time low, a sign of just how hot the industrial metal is.
Finally, our friend cyclicals-to-staples, a nice sign of risk appetite.
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