Monday, December 4–Jim Wyckoff’s Morning Markets Report
World stock markets were mostly higher overnight. U.S. stock indexes are pointed solidly higher openings when the New York day session begins. Major U.S. stock indexes are at or near record highs.
Risk appetite is keener to start the trading week after the U.S. Senate very early Saturday morning passed a tax-reform bill, which many believe will free up the U.S. economy for stronger growth in the coming months and years. Now, the House of Representatives and Senate must hammer out a final tax bill.
The risk-on trading mentality in the marketplace is bearish for safe-haven assets like gold and U.S. Treasuries.