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Market Reflections  

February 6, 2018
Stocks gyrated in mostly positive ground and then gained traction in late trade to end near their highs, up a strong 2.3 percent to 24,912 for the Dow which cuts yesterday's plunge in half and lifts its year-to-date gain to a moderate but respectable 0.8 percent. Demand for the security of Treasuries, which surged yesterday, fell back with the 10-year yield rising a sizable 9 basis points to 2.80 percent.

The day's economic news is headed by a widening trade gap, one that will pull down GDP, and what is probably welcome slowing in job openings for a labor market that is near capacity. The dollar held steady while oil and gold, at $63.50 and $1,325 respectively, both eased slightly.