Gold Marks 1st Gainer in 6 Sessions, Stocks Dip

#gold #stocks

$XAU $GLD $USD $DIA $SPY $QQQ $RUTX $VXX

Gold futures finished up Tuesday after 5-session of declines that pushed the precious Yellow metal’s prices to their lowest marks in 8+months.

Gold futures settled +10.60 (+0.6%) at 1,733.60oz aided in part by a weaker USD and lower bond yields.

US major stock indexes finished lower Tuesday, pulled down by tech/growth issues while materials stocks rose.

Following strong gains in Monday’s session, tech shares dipped in the resumption of a rotation by investors out of stocks that outperformed due to the VirusCasedemic and into others seen likely to do rise as the nation’s economy recovers. The S&P 500 materials and consumer staples sector indexes rose.

Yields on the benchmark 10-yr Treasury bonds stabilized after hitting a 1-yr high last week.

Tuesday, the benchmark US stock market indexes finished at: DJIA -143.99 to 31391.52, NAS Comp -230.04 to 13358.81, S&P 500 -31.53 to 3870.29

Volume: Trade on the NYSE came in at 1,2-B/shares exchanged.

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias in here.

  • Russell 2000 +13.0% YTD
  • NAS Comp +3.7% YTD
  • S&P 500 +3.0% YTD
  • DJIA +2.6% YTD

Looking Ahead: Investors will receive the ISM Non-Manufacturing Index for February, the ADP Employment Change report for February, the final IHS Markit Services PMI for February, the Fed’s Beige Book for March, and the weekly MBA Mortgage Applications Index Wednesday.

Have a healthy day, Keep the Faith!

#Bullish#DIA#DJIA#GLD#Gold#NYSE#QQQ#RUT#RUTX#SPX#SPY#stocks#USD#xau