In this morning’s note we’ll take a look at today’s early numbers then jump to our weekly video economic update wherein I also feature a snapshot of the latest action in the S&P 500 Index.
Asian equities rallied overnight, with 13 of the 16 markets we track closing higher.
Europe’s rallying as well this morning, with 14 of the 19 bourses we follow trading up as I type.
US stocks are so far giving up a chunk of yesterday’s gains: Dow down 298 points (0.88%), SP500 down 1.46%, SP500 Equal Weight down 0.79%, Nasdaq 100 down 1.75%, Nasdaq Comp down 1.45%, Russell 2000 down 0.39%.
The VIX sits at 30.14, up 0.50%.
Oil futures are up 1.14%, gold’s up 0.51%, silver’s down 0.89%, copper futures are down 0.29% and the ag complex (DBA) is down 0.25%.
The 10-year treasury is down (yield up) and the dollar is down 0.38%.
Among our 39 core positions (excluding cash and short-term bond ETF), 13 — led by Nokia, Albemarle, South Korean equities, solar stocks and emerging market equities — are in the green so far this morning. The losers are being led lower by Verizon, AT&T, tech stocks, utilities and healthcare stocks.
Here’s this week’s economic update (along with a quick look at the S&P 500 technicals).
Have a great weekend!
Marty