(As of 7:20am, PST)
The markets are off to a good start ahead of a week full of
activity. Today’s positive move more than likely is tied to a surge in oil and
the dollar making a recovery against the Japanese yen. Currently, the Dow is up
137 points and the S&P500 is up 12 points. Oil has flattened out a little
today after a huge gain on Friday driven by talk about a production freeze next
week. The strength of the dollar against the yen is giving investors a little
more confidence about global economic conditions after the dollar hit
concerning lows last week. But the big market moving news will begin today and
into the week as earnings season kicks off and a slew of economic reports roll
out later in the week. Alcoa will be the first to report after today’s close.
Many experts are predicting that earnings will be down which suggests that the
market is overpriced. Seven out of ten sectors are expected to report a
year-over-year decline in earnings. The Producer Price Index, Consumer Price
Index, Retail Sales and Industrial Production reports are all due out later in
the week. All in all this week should provide a lot of guidance about the state
of the economy and the markets.
Note: Make sure to visit our
updated website at www.millerfinancial.biz where you will also find our blog.
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and links to other financial websites.
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