(as of 7:15 AM PST)
It looks like an ugly day is shaping up ahead of a raft of company earnings
and economic data due out this week. Friday's market reversal to the
downside appears to be picking up steam despite some positive merger and
acquisition news. It's hard to target one event, but it seems that
Amazon's big earnings disappointment was a turning point and now bears are
pouncing. News stories in the financial press indicate that larger
investors are taking money out of the market fearing a correction might be looming.
The Nasdaq is down about half a percent, with other indexes down smaller
amounts, but the worry is that the downward slide might accelerate.
Company earnings reports and the possibility of more positive economic data
might stem the tide. Gold is up slightly while oil is down close to 1
percent. The US dollar is close to unchanged while interest rates are stable.
No comments:
Post a Comment