(As of 7:20 am PST)
Stocks began the 2nd
quarter shifting between small gains and losses as investors awaited two
important economic reports. The first to
come out was the ISM manufacturing survey which fell nearly 3 percentage points
indicating manufacturing activity expanded at a slower pace in March. Markets pulled back slightly then reversed
course after data showed construction spending rising 1.2% in February. So far it’s been a see-saw morning with the
market struggling to find direction either way. Disappointing manufacturing data out of China
sent Asian markets lower and dampened the mood on Wall St. in early trading. European markets are closed today for an
extended Easter holiday break. Gold is
up slightly while oil is down 1%.
Interest rates are ticking up while volatility is also higher. It’s a busy week chock-full of economic
reports which may set the stage for some active trading as earnings season
starts next week.
No comments:
Post a Comment