Weakness is creeping into
markets this morning. A drop in consumer
confidence and a slightly negative report on home prices has added to investor
nervousness that started in international markets. China and Europe are both weaker. Reports that the European Union growth rate
might lag into 2015 seem to be a negative on US markets. Chinese manufacturing numbers are also making
investors nervous. Gold started out
lower, but has since recovered; while oil is giving back some of its large
rally of the last couple of weeks, down over 1%. Interest rates have fallen slightly. One gets the feeling that a risk off scenario
is developing, whereby sellers are in control of most investment assets,
although it has not yet had a major impact on today’s trading.
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