Friday, June 27, 2014

Economic Journal - Friday, 6/27/2014



(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.

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