(as of 7:00 AM PST)
The real news this week comes later with a big earnings reporting period in store. While earnings will probably dictate short term market direction, this morning's moderate decline is more on prior day's news, that being continuing reaction to the downing of a Malaysian passenger jet on Thursday of last week. All signs are pointing to Russia as a responsible party to the shoot-down and more economic sanctions have been put in place as a result. Expect the negative pall to continue through the day. Perhaps some surprise breakout earnings reports to the upside will reverse the negative sentiment, but right now investors are not seeing a lot to be positive about. Gold is up moderately while oil is near unchanged. International currency markets are quiet and interest rates are stable but drifting slightly upward as signs of US economic recovery are more in evidence.
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