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Mar 27 2015

Markets attempt to avoid a fifth consecutive day of declines

3/26/15 Market Recap:

In what has been a familiar story through the course of this week, markets fell again in yesterday’s trading with investors focused on reports that Saudi Arabia had launched air strikes against rebels in Yemen. On a positive note, despite falling for the day, markets did close above session lows thanks to strong jobless claims data and some positive earnings surprises. The S&P, Dow, and Russell closed with similar declines for the day, falling by .2% while the Nasdaq fell by .3%. Losses among the 10 S&P sectors were broad based as well, with only Materials and Tech managing gains on the day. Treasuries also declined, sending 10 year yields to 2% while the Dollar recovered against the Euro.

Looking Ahead:

Futures are slightly lower this morning as the markets attempt to avoid a fifth consecutive day of declines. This week has been a rough one for the markets with the Dow and S&P both down 2.50% so far this week. On the economic front, the final estimate of fourth quarter GDP came in unchanged at +2.2%. Later this morning, consumer sentiment data will be released, hopefully providing some good news for investors, leading to a break the current losing streak. Both the US dollar and Treasures are slightly higher in overnight trading.

Don’t miss Money Matters with Gary Goldberg this Sunday at 11:00 AM on WOR 710 AM Radio when Gary interviews Don DiMicco, former CEO of Nucor and author of “American Made.” Visit our website for details.