Strong results from tech giants pushed the Nasdaq and the S&P to record highs. Weak business spending data pushed Treasuries higher and the dollar lower. Gold fell as strength in global equities diverted interest from the precious metal. Yemen worries buoyed Brent while U.S. oil fell on supply concerns.
Over the weekend, Peopleâ€™s Bank of China cut banksâ€™ reserve ratio requirement.Â This aggressive move reflects serious concern on the part of the Chinese government about the slowing economy. It is not news to investors that these days stocks often jump on intervention by central banks on worries about weak economy. Chinese action has stopped
We are trading just atÂ the trendline (green) if the selling pressure does not stop there is a chance to trade to 2000 or bellow to 1990 in the SPX The situation in the Middle East is not helping the markets: “Centuries old conflict between two branches of Islam, Suni and Shia, just escalated.Â Overnight Saudis