It looks like a quiet
day. Stocks opened near unchanged and
there is very little movement in most markets.
Momentum that has been in play over the last two weeks would lead to the
assumption that stocks will drift up as the day progresses. Gold is up slightly, oil is down a bit and
interest rates are near unchanged. The
standout in the international markets overnight was the Nikkei, a Japanese
index. It was up 2.9%, with other Asian
markets mixed. The lone key data report
today was housing starts, which were down 4.9%.
Most analysts are ignoring this continuation of weak data from January,
attributing the weakness to winter storms that pummeled the east coast
throughout much of the month.
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