Monday was a tough day in the
markets. All major indexes were down 1%
plus, pushing the Dow and S&P 500 negative for the year. Some analysists are concerned that investors
are steering clear of stocks in fear of a December rate hike and that this
trend looks a lot like what we saw in August and September. This morning’s
activity reflects a continuation of that negative sentiment. The economic
calendar is light with little data to move markets. Global markets followed the
U.S. overnight, most of them in the red. Europe is also exhibiting weakness
with political issues in Portugal weighing on markets. Oil is trading up in the
early going while gold is down. With profit reports winding down and little
economic data, attention is being focused on the Federal Reserve’s big December
rate hike decision and history shows us that investors have been very cautious
in this type of environment.
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