(As of 7:15 am PST)
Stocks are edging lower at the open with the major
indexes on pace to finish with modest weekly losses. The economic data calendar is light
today. A report out of the University of
Michigan and Thomson Reuters showed consumer sentiment rising to a final
reading of 82.5 in June from 81.9 in May.
Consumer sentiment was higher than expected but not enough to nudge
markets into the green. In earnings
related news, shares of Nike rose after the Beaverton, OR apparel and shoe
maker announced stronger than expected earnings after the bell yesterday. Across other markets, Asian equities finished
mostly lower, while Europe was mixed.
Gold and oil are slightly higher and interest rates are down with the 10
yr. treasury yield trading at 2.51%. It
was a lackluster week for markets as investor nerves over international
tensions and Fed policy speculation led them to take profits. We’re keeping our eye on the volatility index
(also known as the fear gauge) as we head into the doldrums of summer.
No comments:
Post a Comment