(As of 7:30 am PST)
Stocks are lower this morning with the Dow Jones Industrial Average and S&P500 pulling back from record levels after five straight record closes. Negative sentiment out of Europe is dragging markets lower as fresh worries over the Russia-Ukraine tensions picked up today on news that Russian weaponry is entering the region. European indexes sold off from the start of the session. In other international news, most Asian benchmarks finished the day higher with the Shanghai Composite Index closing at a three year high. The first bit of economic data for the week came in today as wholesale inventories for September rose slightly better than expected but at a slower pace than the prior month. Oil is down 0.5% today while gold is slightly higher. Interest rates are lower with the 10 yr. treasury yield falling to 2.32%. Many traders are viewing this mid-November lull as a great time to consolidate gains from the last month. As we head in to the thick of the holiday season, there's a good chance we might see a 'Santa Claus' rally to close out the year.
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