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Markets Higher On Weak Dollar

|Includes: SPY, PowerShares DB USD Bull ETF (UUP)

 The U.S Dollar dropped today, pushing the stock markets higher. The inverse relationship continues to hold true. The PowerShares DB US Dollar Index Bullish (NYSE:UUP) is trading at $23.16, -0.11 (-0.47%) while the SPDR S&P 500 ETF (NYSE:SPY) trades higher at $128.60, +1.17 (+0.92%).  The markets continue to have extremely light volume. At this point, the markets are waiting for the Federal Reserve's Beige Book at 2:00pm ET.

Commodities are leading the charge for the second day in a row. Chevron Corporation (NYSE:CVX) has hit a new 52 week high at $92.75 while Exxon Mobil Corporation (NYSE:XOM) has done the same.  These are two major Dow Jones Industrial Components and are both helping keep the markets nicely higher.

Gareth Soloway