(As of 7:11 am PST)
Stocks are retreating from
record highs set last week. The ISM
Services report came in very strong, but it was not enough to overcome the
negative tone set at the market open. There
is little in the way of additional economic data today and a pullback based on
profit taking would be no surprise. August is traditionally a slow month for
trading with significant players taking time off for summer vacations. Gold is down slightly along with oil. The dollar is mixed against other
currencies. Market activity has been
driven by corporate profit reports for the last few weeks and that trend is
likely to continue this week.
No comments:
Post a Comment