(As of 7:20 am PST)
Markets are trading near the unchanged line after a brief
recovery at the open. Worries over
global growth and Middle East tensions have weighed on markets as of late
sending US indexes on a 3 day losing streak. Stocks moved
higher early after a report on housing showed US new-home sales surged in August to a
6 month high. The gains were short lived
however as investors turned back to worries over growing Middle East tensions
as a US-led coalition of airstrikes in Syria against the Islamic State have
captured headlines this week. Later in
the day, investors will be keying in on several speeches from Fed officials,
looking for hints on the timeline of the Fed’s short term rate hike. International markets are mixed today while gold
and oil are lower. Interest rates are
down for the fourth straight day as money continued to flow into the safe haven
treasury. Today’s market action looks poised for
another session of losses.
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