(As of 7:13 am PST)
Stocks are flat this morning as all three major US
indexes face weekly losses, the first time in 6 weeks for the Dow. Economic data is light today and with
earnings seasons coming to a close there is an eerie calm hovering over
markets. Investor focus will likely shift
over the coming weeks to a macro level, with the Fed’s decision on monetary
policy and the US debt ceiling debate driving buy or sell decisions. We could see some volatility pick up as the
summer comes to a close. Today, positive
economic data out of China has buoyed stocks around the world. China reported strong industrial production
and retail sales were also positive but slightly below expectations. Asian markets finished the day in the
green. Europe is higher on the China
news. Oil prices are higher while gold
is slightly off and interest rates are flat. Heading into next week, investors will have
plenty to chew on with reports on retail sales, manufacturing, industrial
production, and housing all due out.
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