(As of 7:30 am PST)
Equity markets are advancing this morning with the Dow
Jones and S&P500 reaching all time record highs in early trading. Stocks have retreated from their highs of the
day but are maintaining some solid gains.
There’s not a lot of news to report, so it’s difficult to interpret
today’s open. Reports swirling out of
Europe are suggesting that the European Central Bank is expected to announce
further easing measures on Thursday.
Also, good reports on UK factories caused European stocks to
advance. Economic data is light in the
US. A composite report of leading
economic indicators came in higher in September, marking the second consecutive month
of gains. Earnings reports continue to
come in mixed as well. Investors are taking
a cautious stance heading into Friday’s nonfarm payrolls jobs report. With markets trading at record highs it’s
difficult for buyers to take on new positions at this point.
No comments:
Post a Comment