Loading ...Yes, they were down, but not big on a % basis. I guess the thing is, for the first time in a long time I can remember, bad news was bad news for the SM. GDP was weak, and not even a weaker dollar and lower rates seemed to help them. That’s unusual to me.
The other thing that’s unusual was that pm shares and the HUI were up. I suspect if silver had done even a little better, the shares would have done much better. Gold was weak considering the dollar. So, what gives here? Are the shares forecasting higher metals or was this just a meaningless one off?
NVDA was down $50, course considering the run up, that’s nothin’. I think though that underneath the NVDA’s, AI stocks and the large caps, things aren’t all that healthy. Makes me wonder about the banks too, housing numbers were hideous. We know CRE is big trouble for them. This would be an odd time for a meltdown, but if the Fed needed a reason to cut in a couple weeks, they might get it.
Sorry, just thinking out loud.