The Market Review. 2018 has arrived. With U.S. stocks coming off their best year since 2013, investors come into the second year of the Trump administration with Wall Street expecting higher stock prices amid corporate tax rates that have been slashed.
Gold Price increased to $1.314.50 (+0.17%) per ounce, Silver Price $17.21 (+0.03%), Platinum Price $943.70 (+0.15%), Palladium Price 1090.05 (+0.10%), Dow Jones index 24,816.40 (0.39% increase).
U.S. Dollar vs Precious metals
The US Dollar Index is trading lower at the beginning of 2018 but market analytics have different opinions as to what might be causing it. The gold price is trading higher in morning deals on Tuesday after the greenback has risen more than $70 from nearly five-month lows hit in mid-December. Among other precious metals: silver price slightly rose, platinum and palladium prices are also trading higher.
Stock Market Today
U.S. stocks on Tuesday opened higher S&P 500 2685.29 (+0.44%) and NASDAQ Index 6954.90 (+0.75), Dow Jones Industrial Average 24816.40 (+0.39%).
US stock indexes kicked off the new year on a high note on Tuesday as Wall Street bet on another strong year for equities. Stocks got a boost last year from strong growth in corporate earnings, solid economic data and as expectations of lower corporate taxes. Last month of 2017, President Donald Trump signed a bill that slashed the corporate tax rate in the U.S. to 21 percent from 35 percent.
Economic data for this week: Markit manufacturing (Tuesday), ADP employment, ISM manufacturing, Construction spending (Wednesday), Weekly Jobless claims, Markit services PMI (Thursday), Nonfarm payrolls, Unemployment rate, Average hourly earnings, ISM nonmanufacturing (Friday).
All market review articles are provided as a third party analysis and do not necessarily match views of Bullion Exchanges and should not be considered as financial advice in any way.