Monday, April 7, 2014

Economic Journal - Monday, 4/7/2014

(As of 7:25 am PST)
 
The stock market added to selling pressure seen Friday as momentum tech stocks led the decline.  With little economic data to trade on, investors remained cautious after Friday’s selloff which saw the tech-heavy Nasdaq record one of its worst days of the year.  Momentum stocks such as Facebook, Amazon, and Tesla took the brunt of the selling Friday and have come back slightly today.  Tensions in Ukraine flared up again adding to today’s caution.  Russian equities traded broadly lower.  Asian markets finished lower and European markets are headed towards a down day.  The data calendar is light this week with markets eyeing Wednesday’s release of minutes from the most recent Fed policy meeting.  Markets are also rearing up for the start of earnings season with analyst forecasts coming in less than exuberant. Gold and oil are lower today as are interest rates as investors sought the safe-haven treasury.

No comments: