Thursday, November 30, 2017

Dow Gains, NASDAQ Falls, Bitcoin Up, then Down, Precious Metals Hammered

Dow stocks led the way on the second last day of November, as tech stocks (especially the FAANGS) were beaten down on the NASDAQ, suffering a loss of more than one percent - a rare occurrence these days.

Bitcoin ramped up over $11,000, before crashing. Silver and gold were flogged, as has been the case for too long as central banks struggle for survival in an increasingly fractured global environment.

Governments are still hanging onto their taxing powers, but it's becoming increasingly apparent in the West that promises made to workers - especially public employees - via pensions, are going to be revised.

The final day of the month signals new all-time highs as window dressing will be in effect. Republicans in congress hope to hold a vote on tax reform either Thursday or Friday. The margin of error for passing a bill is very slim as Republicans hold a small majority and all Democrats are expected to vote against any tax bill.

At the Close, Wednesday, November 29, 2017:
Dow: 23,940.68, +103.97 (+0.44%)
NASDAQ: 6,824.39, -87.97 (-1.27%)
S&P 500: 2,626.07, -0.97 (-0.04%)
NYSE Composite: 12,561.32, +41.09 (+0.33%)
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