Morning Market Report

The market is down 27. SFE Futures were down 40 this morning.

Dow Jones down 121. The Dow was down 121 at worst and up 48 at best. The Dow closed on its lows, US economic data came in better than expected but markets were still focused on the ‘fiscal cliff’ with tax increases and spending cuts projected to occur from January 1. Gold up again, US bond yields down, oil and metals regained some of their previous day’s losses. The US trade deficit narrowed from US$43.79 billion in August to US$41.55 billion in September. The forecast was a US$45 billion deficit. New claims for unemployment insurance were down from 363,000 to 355,000 last week, although the result was affected by Hurricane Sandy. Worst sectors  — Energy (-1.7%), Technology (-1.5%), Basic Materials (-1.5%) and Consumer Services (-1.4%). European markets down —  UK FTSE down 0.27%, German DAX down 0.39%, France down 0.06%, Spain down 0.48%, Italy down 0.64% and Greece down 3.77%. There was uncertainty about when the European Union will provide the next tranche of funds to Greece with the German finance minister saying that a decision may not be made next week. The Stoxx Europe 600 index down 0.2% with Utilities (-1.0%), Consumer Services (-0.6%) and Energy (-0.5%), (+0.2%) and Consumer Goods (+0.1%).

For a 5 day FREE TRIAL of the MARCUS TODAY newsletter Click Here. You will receive our renowned and popular Daily email about the stockmarket with all the stuff you need to know ahead of the trading day including:

Subscribe to MARCUS TODAY. We are sure you will enjoy and profit from what we offer…we have one of the highest re subscription rates in the financial newsletter industry.

Categories: Markets, Morning Market Report

« | »