(As of 7:37 am pacific)
Europe has drifted to the background again, but there is
concern about Greek elections this weekend and whether austerity will win out
over a potential Greek exit from the Euro.
I think that trading will be very cautious until that election is
over. A drop in retail sales seems like
more of a good thing to me, but the market is reacting negatively. Lower prices at the gas pump are the likely
reason for the drop. That’s not such a
bad thing, and should free up dollars for increased consumer spending. Inflation was shown to be well in check this
morning. Gold is up; oil is down, as are
most other commodities. Interest rates
are down slightly, but pretty flat.
Volatility is up slightly. Expect
the market to be quiet through the rest of the week, with a slight positive
momentum.
