(As of 7:20 am PST)
The major benchmarks opened the week on a cautious note
as investors charted their course from these record levels. The Dow, Nasdaq and
S&P500 all opened flat after etching another week of gains last week. It’s
a light data calendar this week, with virtually no data to report today or tomorrow.
Friday is full of data including reports on retail sales, import and export
prices, and the Michigan consumer sentiment report. The big story remains the
volatility we’ve seen in commodity prices, notably oil. After hitting $75 per barrel early last week,
oil bounced back to close near $80, but has opened sharply lower today upon
renewed tensions in eastern Ukraine. Gold and other precious metals are also
trending lower. Asian markets finished the day mostly higher, while European
stocks are also up modestly. Interest rates and the US dollar are up today. It's a quiet start to the week, but expect stocks to continue to march higher as the week progresses.
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