Stocks are holding up
surprisingly well in light of international news. China markets fell heavily when trade surplus
numbers missed estimates by a large amount.
China exports were far less than expected and their imports surged
creating a startling balance of payments deficit and indicating that their
economy might be slowing more than expected.
It also shows that China might be turning from an export driven economy
to a consumer based economy as the growing middle class exercises it economic
clout. US stocks took the news in a
ho-hum manner and are only down fractionally.
Oil is down, reflecting the China data, while gold is near even,
ignoring tensions in Ukraine. There is
no significant economic data to report today.
Patterns of the last few weeks lead one to believe that markets will
reverse to the positive, although it looks like a very quiet day is shaping up.
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