Trading is getting back to
normal. New York is digging out of its
massive snowstorm and traders are returning from holiday. There is a decidedly negative sentiment. After a brief opening rise, markets are
giving back gains in a hurry. The NASDAQ
is taking the brunt of losses, with Apple, Twitter, Netflix, among others,
showing moderate declines. Asia markets
took a hit last night from some negative data out of China. Europe is stronger on some positive economic
news from Italy and Spain. Gold and oil
are both up marginally. Eyes are now on
the upcoming earnings season. Earnings
projections have been reduced significantly from prior estimates. Revenues are expected to be flat with some
improvement in earnings, due in large part by the financial sector. After a big run-up last year, markets might
be poised for a consolidating correction.
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