(As of 7:10 am pacific)
The US dollar is strengthening
against all currencies. As a result most
commodities are down except for gold, notching a small gain. European and Asian fears are impacting the markets. The ADP employment index beat expectations,
but it is often unreliable. Oil is down
about 1.5%. The markets opened with a
small positive burst and then quickly became mixed and quiet. Interest rates continue to decline to
historically low levels. The ISM services report beat expectations and will
likely provide the positive momentum needed to keep the market in the black
today. But it is clear that there is not
much conviction on the part of investors at this point.
