(as of 7:15 AM PST)
We have a bounce this morning after yesterday's miserable day. Stocks were off between 1 and 2% on Thursday, depending on the index you were looking at, with small cap stocks leading the decline. Markets have quieted down to start the new month but investors seem very nervous in spite of the mild uptick to start the day. International markets are mixed amid tepid data. Economic reports have been solid but nothing strong enough to move the market. Interest rates seem to be on the rise reflecting the fact that the Fed is likely to start a mild interest rate hike program in the next few months. Oil and gold are both down with gold having given back all of its recent rally in the last two days. Today's market advance looks very tentative and it's quite possible that negative sentiment might erase those gains as the day wears on.
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