(As of 7:15 am PST)
US stocks are lower to start Tuesday’s trading, giving
back some of the gains seen in the past two sessions. There is no particular
data point driving the selling, but as the first quarter of 2015 wraps up
today, investors seem to be expressing their concerns over the upcoming
quarterly results. Forecasts for corporate earnings in Q1 are dismal at best,
with analysts and money managers concerned about a possible P/E contraction and
a pullback in stock prices. Despite today’s selling, the first quarter looks
poised to book positive results, while the month of March is set to end lower.
In overseas action, Asian markets finished mixed as investors took profits on
yesterday’s rally. European markets are heading toward a negative finish but
remain poised to finish with their best quarterly gains in years. Oil prices
are lower while gold and other precious metals are up slightly.
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