(As of 7:18 am pacific)
This morning’s market is all about Europe and it’s a bad
day for Europe. It seems a familiar
story and if this week shapes up like the past few, we will likely see a
moderation of losses as the day wears on.
There are some positive stories about real estate, while the Leading
Economic Indicators were up last week.
On the negative domestic side, we have seen deterioration in the
business and manufacturing indexes over the last week. Interest rates are mixed, slightly up on
short term and slightly down on long term, another indication that ‘Operation
Twist’ is still in effect. The FOMC
extended this program last week as another attempt at monetary easing. Oil is down while gold is up slightly as are
most other commodities. The US dollar is
up against all except Japan’s Yen.
