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Morning Market Stir: Markets Consolidate Gains to Start the Week

Markets consolidate to start the week

Tuesday, October 28 – Alan Knuckman reports from the floor of the CME Group in Chicago where markets pulled back to start the week but recovered nicely into the close on Monday. The S&P finished just below unchanged at 1,957, the Dow ended up slightly at 16,756, and the Nasdaq led the way up at 4,038. The dollar pulled back to 85.56, allowing the Euro to breath and rise to 1.2712. Bonds consolidated and closed at 141'31. Crude was unchanged yesterday after making new relative lows, while gold fell to 1,231. This morning, markets are up again as the major indexes challenge their 50-day moving averages. The dollar and Euro are near unchanged. Bonds are down, while crude attempts to rally off of its base and gold is holding above the 1,220 level.

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