At 8:15 a.m. futures are moderately up, the dollar is mixed, and oil is down.
What can we say, the market has been crap poor the last six weeks and now we are at another crossroads. Does the DOW start sinking below 12,000 more and more or does positive sentiment start kicking in and at least hold the line.
Until second quarter reports kick-in starting in July, I personally think we continue going through a restless mucky period. Hopefully today's pre-market positive futures level can hold but right now it would not surprise anyone if it did not hold.
CNN: Stocks: Investors pause after 6-week losing streak
...Wall Street faces a data-heavy schedule this week that is expected to bring more volatility to a market full of investors weary from six consecutive weeks of losses.
China is slated to release its latest consumer price index data overnight.
Oil for July delivery slipped 90 cents to $98.39 a barrel.
2 comments:
Were heading into a double dip recession ala 1937. Deficits are bullshit. Were in the middle of an increasingly demand driven Depression and the right and their Dem. neo-lib. allies are pushing us deeper with their deficit dance. Its only going to get worse in the short and the markets are responding to this fact.
The American economy is a wild thing. All signs point to and suggest what you are describing. In spite of it, I'm not positive it will happen. One thing is certain though, barring our demise, we will definitely find out.
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