(as of 7:15 PST)
Stocks are off a small amount
in quiet early morning action. With many
traders on vacation it will be a slow day.
US economic reports have been mildly negative, enough to give the few
investors trading today pause. Spending
data was weak, Chicago PMI showed very slight growth, and consumer confidence
was down. With worries over Syria and
the Federal Reserve Bank tapering process, negative anxiety is likely to
prevail today. Given a lack of traders,
we might see an overreaction on the down side.
Gold is down a fair amount after an impressive rally. Oil is also off slightly. The US dollar continues to be strong against
other currencies. Interest rates are
stable with mortgage rates ticking down a bit.
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