Global bourses sold off on Monday as investors grew more and more anxious over the violence in Gaza and the rising geopolitical tensions between the world and Russia after the downing of Malaysian Airlines Flight MH 17. The Dow fell as much as 130 points before rebounding to close with relatively minimal losses. Sectors of the S&P declined, while commodities generally strengthened and Treasuries rallied with the benchmark Ten-Year yield falling below 2.5%. So far, earnings have impressed investors, keeping a floor underneath an otherwise shaky market.
Economic data and earnings heat up on Tuesday, with Japanese all Industrial Index and U.S. Consumer Prices being released before the open, followed by the U.S. Redbook report, Home prices, Existing Home Sales, and the Richmond Fed Manufacturing Index. On the earnings front, Altria (MO), Apple (APPL), The Coca Cola Co (KO), Harley Davidson (HOG), Kimberly Clark (KMB), McDonalds (MCD), Microsoft (MSFT), Prologis (PLD), United Tech (UTX) report earnings on Tuesday.
Make sure to tune into Money Matters with Gary Goldberg this Saturday at 2:00 PM and Sunday at 11:00 AM on WOR 710 AM Radio to hear our complete analysis of how the events in Ukraine and between Israel and the Palestinian territories will impact global markets, as well as a discussion on this and other critical subjects with S&P Capital IQ’s Sam Stovall. Visit our website www.ggfs.com for details.