(As of 7:20 am PST)
It’s another quiet day on Wall Street as stocks open flat
on this holiday shortened week. The
Dow Jones opened up slightly while the S&P500 and Nasdaq are slightly below
the unchanged line. A report on housing
today showed pending home sales ticked up in November, the first gain in 6
months and another positive indicator of the steady housing recovery. There are no other economic reports due out
today. Social media stocks are taking a
beating today after an analyst downgraded Twitter from neutral to
underperform. The stock is down 6% today
after Friday’s 13% plunge. Other social
media stocks like Facebook and LinkedIn are being dragged lower. Asian markets finished the day mixed while
European markets are trending lower.
Gold is lower and treasuries gained sending the 10 yr. back below
3%. Expect another quiet week this week
with markets closed on Wednesday for New Year’s Day holiday.
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