Asian equities, save for China and India, closed in the red overnight, Europe’s selling off across the board and U.S. equity futures are pointing to a down open this morning.
The VIX (volatility) is up 4.42%. Per yesterday’s video, a market sporting a VIX at 34.95 is not for the faint of heart.
Oil’s flat, gold’s down $2, silver’s down 1%, copper’s down a titch, ag’s mixed.
The dollar, as the commodity action would suggest, is down .2% this morning.
U.S. jobless claims came in higher than expected, 1.5 million; continuing claims did as well, 20.5 million. Seeing such numbers amid a stock market priced like its 1999 is, well, let’s say troubling.
S&P 500 Price to Sales Ratio:
I’ll probably lighten up on the blog a bit today; will be deep in the weeds scoring our foreign macro indices.
Have a great day!
Marty
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