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Equities Look to Test Recent Pessimism
Markets continue to struggle as investors rethink the prospects for recovery in the absence of any major macroeconomic data. The end result for the three major indexes was mixed yesterday but the S&P 500, Nasdaq, and Dow each point upwards in the pre-trading session this morning.rnrnThe smaller-than-expected loss from Alcoa in the second quarter, released after the closing bell yesterday, has helped to buoy sentiment somewhat. Meantime, the US dollar is softer this morning as appetite for equities strengthens. And oil, which has been falling rapidly over the past week to its lowest level since mid-May, is ticking upwards around
Awaiting New Data, Equity Markets Look Weak
The first week of the third quarter looks relatively light in terms of data, but investors will be busy as many in the markets, still absorbing the implications from Thursday’s unemployment figures, are re-assessing the rapid rise in stocks over the past three months.
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