(As of 7:00 AM PST)
As we kick off another holiday shortened week, the
markets aren’t showing any signs of being in the holiday spirit. In early
trading this morning, all of the major indices have opened in negative
territory. Oil continues to be the drag on the market and after a rally toward
the end of last week, it has opened today down over 2%. With a light week of economic news due out, oil will more than likely be the major market mover.
International news isn’t providing much cause for celebration either with
disappointing economic data out of both China and Japan. Industrial profits in
China were down 1.4% year-over-year which was the sixth straight month of
decline. While in Japan, industrial production and household spending declined
1% and almost 3% respectively, month-over-month in November. Without any other
market moving news out there other than the over supply problem with oil, the
Santa Claus rally may have a hard time finding any traction as we close out 2015.
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