(as of 7:00 AM PST)
It's a rocky road to start the day on US equity markets. Stocks are giving up yesterday's muted gains as volatility around the world seems to be surging. Asian markets were mixed with Shanghai still on fire and most other markets down. Europe is struggling with the Greek financial scenario again. Questions remain as to whether Greece can make some heavy duty debt repayments to the IMF this month and there are tense and see-saw negotiations going on between European leaders on how to handle a Greek default. The US dollar index is down markedly, sending the price of most commodities upward, including both gold and oil. Interest rates are climbing this morning and a negative pall seems to be settling in. In economic data, factory orders fell again for the eighth time in nine months, but the report did not appear to be moving markets. It could be a difficult day for stocks as investors grapple with lofty stock valuations.
No comments:
Post a Comment