(As of 7:20 am PST)
Stocks opened lower to start the last full week of
September. It’s a quiet day with little
economic data to report. Existing home
sales fell for the first time in 5 months, declining 1.8% in August, worse than
expected. The disappointing housing data
added to the negative sentiment early. International markets set the tone in
overnight action as central bank leaders played down expectations for future
stimulus programs. Asian indexes finished Monday lower while European markets
are also down heading into the final hour of trading. US markets are following suit this morning. On a positive note, shares of Apple are
higher after reporting a record weekend in which the tech giant reportedly sold
over 10 million new iPhones. Gold and
oil are lower today and interest rates are slightly higher. After busy action
Friday which included one of the largest IPO’s in history, it appears markets
are taking a breather today.
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