This was another typical sleepy summer day of trading.
Silver and gold continued tearing higher, with silver firmly planting its price flag over 23.
The US Dollar gave up the 95 handle, finishing on the DX Index around 94.92.
After the bell the big tickle was Tesla reporting its financial results.
Chipotle and Microsoft also chimed in.
But Tesla is a 'story stock deluxe.'
It is running on momentum now. And has achieved a valuation bubble accepted only by pure cynics and true believers.
Expectations have become so overblown that the story of autonomous electric cars for everyone has had to start morphing into some fantasy 'platform' for selling and servicing things other than cars and batteries.
Well, I would not get in front of this one, but its fall from these lofty heights will likely be fairly impressive.
I got a chuckle listening to the financial bobbleheads and spokesmodels talk about how it is risky to give working stiffs a little extra kick in their unemployment checks, because it might make them lazy, and discourage them from going to back to work.
How about putting in some real safeguards, like no bonuses for executives of financial companies and major corporations that are receiving bailouts?
Surely we don't want to encourage to keep taking reckless actions because there are no personal consequences for their extreme mispricing of risks and short term pursuit of quick profits.
But I don't think the same rules apply for them as they do for the rest of us. And that speaks volumes about how the politicians view the people versus the elites.
Well, baseball season has started at last, and we have been enjoying watching it in the evenings. Nice to have MLB.TV access. Despite the canned audience noises its good to have it back.
Have a pleasant evening.
