U.S. Dollar Plummets, That Is All you Need To Know
This morning, the U.S. Dollar Index is declining and that is helping to inflate the major stock indexes once again. Normally, energy and commodity stocks will be the first equities to inflate when the U.S. Dollar declines, however, these days everything in the market including technology stocks will inflate as soon as the U.S. Dollar dips. It seems that the institutional traders simply have the computers set to buy the markets on any decline in the greenback.
This morning, leading stocks such as Cliffs Natural Resources Inc (NYSE:CLF), Freeport McMoRan Copper & Gold Inc (NYSE:FCX), and Chevron Corp (NYSE:CVX) are all trading higher as the U.S. Dollar Index fades from the open. Most leading technology stocks such as Apple Inc (NASDAQ:AAPL), Akamai Inc (NASDAQ:AKAM), and Sandisk Corp (NASDAQ:SNDK) are all trading higher today. The markets seem to be able to shrug off the high price of crude and this is simply the by product of the U.S. Dollar Index. Enjoy the inflation rally while it lasts. If the U.S. Dollar catches a real bid this inflation party will come to an abrupt end.