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Morning Market Stir: New Highs as Equities Look to Consolidate

Tuesday, November 4 – Alan Knuckman reports from the floor of the CME Group in Chicago where equities hit new highs yesterday before pulling back into the close.

Tuesday, November 4 – Alan Knuckman reports from the floor of the CME Group in Chicago where equities hit new highs yesterday before pulling back into the close. The S&P e-mini futures closed at 2,011, the Dow finished at 17,285, and the Nasdaq closed at 4,157. The dollar continued its surge to 87.41, pushing the Euro down to 1.2494. Bonds were mainly unchanged, closing at 141'02. Crude got crushed again, falling to 78.80, and gold fell to 1,170. After hitting new highs yesterday, we're down this morning on the equity indexes which continue to trade in lockstep. The dollar is pulling back, giving the euro some breathing room, with bonds looking for a bounce on equity weakness. Despite the dollar respite, crude and gold can't catch a bid as both are heading lower.

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