INO.com’s Daily Market Analysis
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U.S. STOCK INDEXES
GENERAL STOCK MARKET COMMENT: U.S. stock indexes closed weaker today on mild profit taking. World stock markets were mixed overnight, with Asian stocks down and European stock indexes modestly up. Little risk aversion in the marketplace recently is driving many world stock indexes to multi-month highs. The apparent easing of U.S.-China trade tensions has traders and investors in upbeat moods early this week. The key “outside markets” today saw Nymex crude oil prices weaker but hitting a new 3.5-year high of $72.90 a barrel. Brent crude is near $80.00 a barrel as the U.S. is set to once again sanction Iran, which would likely reduce that country's oil sales on the world market. The up-trending crude oil market is one bullish underlying element for the metals markets. Meantime, the U.S. dollar index was slightly lower on a mild corrective pullback from recent good gains that saw prices hit a six-month high on Monday. The U.S. data-point highlight of the week will be Wednesday afternoon's release of the FOMC minutes from the last meeting.