(As of 7:05 am PST)
US stocks are slipping in the early going as a lack of
data has investors focused on consolidation and profit taking from the prior
month’s rally. A sharp rise in interest
rates also has investors considering the repercussions of a Federal Reserve
rate hike in the near future. The 10 yr.
treasury yield jumped to 2.54%, the highest level it’s been since the beginning
of August. In company related news,
Apple continues to remain under the spotlight after unveiling the new iPhone 6
and its new Apple Watch yesterday at its product launch event. In general, the
buzz surrounding Apple’s new products seems positive, however an analyst
downgrade of the company this morning may add pressure to the stock. International stocks are lower today. Growth concerns in China sent Asian markets
lower, while European indexes are also down in a choppy session. It looks like
another day of profit taking is under way today.
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