(as of 6:50 AM PST)
Today's markets are continuing a pattern we have seen over the past several sessions. Indexes are mixed, but treading close to breakeven across the board. The big event after yesterday's market close was Apple reporting that it had once again surpassed estimates on revenue and profit. Investors took a ho-hum approach and bid the stock up a mere 2%. The good, but not great, report from Apple was just not enough to live up to the hype that Apple usually generates. Another big tech component, IBM, continues to be affected by reports of an SEC investigation. Today the Federal Reserve Committee is expected to keep interest rates unchanged and provide guidance that a rate hike may be put off to next year. Any surprise by the Fed of a more aggressive posture might send stocks broadly lower. Asia is mostly down while European markets are up modestly across the board. Today's big winner so far is gold, up $15 an ounce due mostly to a weaker US dollar. Oil is also on the rebound, up over 1%.
No comments:
Post a Comment