(As of 7:20 am PST)
Today’s open is much like yesterday’s with stocks
bouncing around the unchanged line in the first hour of trading. Despite a
quiet news day yesterday, markets were able to squeeze out small gains, with the
Dow and S&P500 notching all time record closes for the fourth day in a row.
Once again, it is a quiet start to trading with no economic data on tap for
today. The Veterans Day holiday is also having an impact on trading volumes,
with government offices and the fixed income markets closed today while the
stock market will remain open as normal. In overseas action, Asian markets
finished mixed on the day while the Japanese Nikkei index rallied back after
yesterday’s losses as the yen fell to fresh seven year lows against the US
dollar. European markets are also mixed following yesterday’s quiet session on
Wall Street. Gold, oil and other commodity prices are lower while the US dollar
inched higher. Interest rates are near flat. Expect another quiet session
today, but activity to pick up tomorrow with bond markets re-opening and
economic data to start trickling in for the week.
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