The opinions expressed below are my own and do not necessarily represent those of Visdom Investment Group, LLC.
Little of note
News headlines lacked punch and little economic data released. Markets were left to their own devices and they mostly took their cues from oil. When crude was down, stocks tended to climb, and vice versa. The influence was immediate at times and delayed at others, but the linkage was obvious. Yields climbed significantly today but that said, the S&P 500 didn’t move much.
Stocks treaded water and this might be a signal or it might be nothing. If it’s a signal, it suggests that investors are waiting for the next significant catalyst to act. There is no existing momentum and there is no desire to kick things in a particular direction. This makes some sense in the context of the last few sessions.
Or it could be nothing. Some days are destined to be quiet and maybe action picks up on Monday, regardless of news and data.
See you Monday, have a great weekend.
-Mike
Visdom Market Commentary
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