(As of 7:30 am PST)
Stocks are mixed to start the second week of February
with both the Dow and S&P500 slightly lower as shares of Apple help to lift
the Nasdaq. After a see-saw week last
week that saw the major indexes ultimately finish with gains, many analysts are
calling the “correction” over. We’ll see
after this week’s earnings and testimony from new Fed Chair Janet Yellen, if
the market is really done with its selloff.
International stocks are mixed as most Asian indexes followed Friday’s
rally on Wall Street. European markets
are also mixed as investors weighed
disappointing factory data out of Italy and France with positive corporate
results. Gold is higher by $11 per oz.
as oil edges up to nearly $100 per barrel.
Interest rates are back and forth and the US dollar is flat. There’s a cautious mood on the markets ahead
of tomorrow’s testimony from Janet Yellen.
The Fed seems persistent in its plans to continue tapering its bond
purchases, but the first of Yellen’s semi-annual monetary policy testimonies
will certainly be under much scrutiny.
Expect markets to hug the unchanged line most of the day.
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