U.S. equities are trading a bit lower this morning following Friday’s snap-back rally. Stocks finished last week minimally higher despite another lackluster jobs report. The Fed taper is still on and economic data is relatively weak so we may look to comments from the Fed this week for direction. Volatility fell sharply again on Friday as stocks rose into the close. The CBOE Volatility Index (VIX) is now back down near $15 again after trading above $20 at the start of last week. The cold weather over much of the country continues to slow economic data and consumer spending. Stocks have rebounded back above some key technical levels but markets should remain on edge this week.
Treasuries are flat this morning after a quiet overnight session. The 10-year Treasury yield is hovering just under 2.7% with little sign of rising despite the equity recovery. Many of the major stock indices in Europe and Asia have continued to recover from the sell-off during the first half of last week, encouraged by Wall Street's strong performance on Friday despite the tepid U.S. jobs report. Chinese shares led the gains in Asia with a rise of 2%, boosted by estimates of robust consumer spending during the Lunar New Year holiday season. Japan also rode the coattails of the U.S. as they wrapped up Monday up over 1.5%. Markets are eyeing Janet Yellen's testimony to Congress tomorrow and on Thursday - her first appearance on Capitol Hill as Fed chief - for indications for the bank's reaction to the employment data.
Stock Stories:
Apple (AAPL) – Thanks, but no thanks – The tech product leader gets a report from a key research company over the weekend. ISS advisory firm said the Apple board should reject activist investor Carl Icahn’s proposal for a larger stock buy-back program. The shares are relatively flat ahead of the opening bell.
发表于 2014-2-10 09:34
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