If we are adding up the weight on the market right now its Europe, China, and reform. First quarter results have been on pace. One gets the sense that investors are happy with the DOW at 11k.
Internationally, Greece and now Ireland are weighing on investor's minds as those countries are in the red, deep. Its about the E.U. and the euro, and the world economy for that matter.
Obama is talking reform. In my opinion reform is just a new set of obstacles that a new generation of MBA's will find loopholes for. That is provided the next Republican administration doesn't remove any reform initiative. Who am I kidding, that should read, until the next Republican administration removes any Obama initiatives.
CNN: Stocks headed lower at the open
Strong earnings have helped boost sentiment recently, although investors still remain wary about the economic recovery.Reuters: Stock futures drop on Greek deficit news, U.S. data eyed
A report on weekly jobless claims comes out at 8:30 a.m. ET, and existing home sales are due out at 10 a.m. ET.
The price of oil fell 61 cents to $83.07 a barrel.
On Thursday, the European Union reported that Greece, as well as Ireland, had much larger budget deficits last year than had been expected.
Investors see any move to cool down the Chinese economy as detrimental to the global economic rebound.
3 comments:
My broker wants me to invest in munies. What do u think of them? I'm rearranging my portfolio these days as I doubt at 61 with a heart condition many employers are going to coming knocking @ my door anymore. Life is cruel and I'm a realist.
I don't know about munies, but I will look into it. I like the stable high dividend equities.
Like what equities?
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