The major stock market averages are mixed today (Dow -42 pts; SPX flat; Nasdaq flat). Transports (+1.5%), retailers (+.4%) and semiconductors (+.8%) are faring the best. Healthcare and gold miners are down on the day, as are emerging markets. The banks are roughly flat. The VIX Index is back down around 14 after hitting 15 last Friday. European stock markets closed in the green but most of Asia was down overnight. China’s market continues to falter, now down 23% on the year, after yet another threat by President Trump to escalate the trade war. Most commodities are lower on the day. WTI crude oil is trading at $67.57/barrel after having touched $70 a week ago. Gold is now down 8% this year & copper is off over 20%. Bonds are falling in price (rising in yield) today. The 5-year Treasury Note yield is back up around 2.82%, a one-month high. The 10-year yield is up around 2.94%, inching closer to 3%.
*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.