US markets seem to be in a consolidation mode with a mixed opening. It is not a bad start given a negative European index and mixed news from Asia. Oil continues to get beaten down, confounding analysts who are betting on a rebound. Gold is showing signs of recovery, up about half a percent. US economic data is limited today so markets are likely to be driven by individual stocks developments. One report than has set the tone for what might prove to be a spreading negative story is McDonalds, which is suffering because of its China troubles and because of the strength of the US dollar. The strong US dollar might dents profits of firms that do a lot of international business. There is also lingering concern that Friday's strong employment report might force the Federal Reserve Bank raise interest rates sooner than later. All in all, though, it seems we are in for a lackluster Monday.
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