Yes, the traders are back from vacation and they have come back with a cautious and pessimistic tone. Stocks are down about 1% in early going. In a throw back to a couple of years ago there is a European flu bug going around. Comments about a Greece exit from the Eurozone have investors on edge. This might complicate the ECBs efforts to provide a stimulus package later this month, with Germany seeming ready to dig its heels in against any more efforts to weaken the Euro. With very little economic data out today, emotions might play a greater role than normal in trading and there is not enough optimism to persuade traders to add to strong gains which came from the Santa Claus rally. Look for negativity to win the day and let's hope that stronger economic data later in the week can persuade traders that a vibrant US economy can be the global economic driver in 2015. Gold is an early beneficiary, up moderately, while oil continues to fall on excess supply worries. Interest rates are stable the US dollar continuing its remarkable rally against most foreign currencies.
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