Losing Streak Hits 4th Straight Day - InvestingChannel

Losing Streak Hits 4th Straight Day

Stocks were weak early as selling resumed but a mid-day rally got markets positive briefly before selling resumed.

Perhaps that was some wasted buying power even as markets become short-term oversold.

Economic data was mixed overall as Jobless Claims fell to 282K vs 293K expected & prior 291K; PMI Services Index FLASH rose t 58.6 vs 57 expected & prior 57; and Kansas City Fed Mfg Index fell to contraction and a 2-year low at -4 vs 1 expected & prior 1. It’s interesting how manufacturing is slowing while service jobs increase. This is a pretty clear reflection of the growth in part time service jobs and manufacturing out sourcing overseas.

Curiously given the uncertain equity market, a two day Treasury auction

Read more…

Related posts

Carl Icahn Increases His Stake In Take-Two Interactive To 10.68%

ValueWalk

iPad Mini Display Outperformed By Kindle Fire HD & Nexus 7

ValueWalk

Foxconn Might Open Manufacturing Plants In The U.S. [REPORT]

ValueWalk

Peter Cundill Protégé Tim McElvaine on Investing in Japan [VIDEO]

ValueWalk

Set Bing Home Page Image As Lock Screen In Windows 8

ValueWalk

Morning Market News: JCP, APO, MCHP, ZIP, ENR, LGF, EA, ATVI, COV, LNT

ValueWalk