(As of 7:25 am PST)
Friday
marked the end one of the worst weeks we’ve seen in the markets in the last
couple of months with the S&P500 declining 3.6% for the week. As we headed
into the weekend, watching our investments seemed irrelevant as the world
grappled with another senseless loss of life at the hands of a coordinated
terrorist attack in Paris. Monday’s open was a choppy one with markets looking
for direction in light of the events that occurred over the weekend. The sad
reality is that the effect of Friday’s event on the markets may be minimal
given the unfortunate fact that these occurrences are becoming far too
frequent. European markets proved resilient in Monday’s trading as expectations
grew surrounding the ECB and further stimulus measures in the coming weeks. The
only economic report today is out already with the Empire State Manufacturing
report showing declines in the New York Fed region for the fourth consecutive month.
Oil prices are up .6% to $41.00 per barrel. This bump can be linked to
heightened geopolitical concerns after the Paris attacks. Gold is up in early
trading. Markets are wrestling with a lot of contending issues as we near year-end
including lackluster economic data, weak earnings reports in the retail and
energy sectors, slumping commodity prices and the potential of an interest rate
rise in December. Expect heightened volatility, at least for today, but likely
throughout the remainder of the week.
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