The major indices are all lower this morning after
disappointing retail sales data. The Nasdaq is leading the
indices to the downside with a loss of 0.8%. Whole Foods
Market Inc. is leading the Nasdaq 100 lower with a drop of 11%
this morning.
June crude futures are up 0.8%
to $62.02 per barrel.
June gold futures are down 1% to $675.40 an ounce. The drop
in gold comes as a result of the strength in the dollar today.
Around Asia, Shanghai's Composite
Index added 0.9% to close at 4,049.70, Tokyo's Nikkei closed
fractionally lower to 17,736.96, and Hong Kong's Hang Seng Index
lost 0.5% to 20,746.27.
Our
PowerRatings Heat Map remains on the bearish side as the market continues to
hold near highs. Taking long positions at this point may hold more risk. The
weakest sectors today are Transportation, Metals/Mining, Manufacturing, and
Energy.
Click here to see our new list of indicators that includes
Gaps Down 5% or More,
2-Period RSI Below 2,
Stocks Up 10% or More. Historically proven edges make
these a great place to start making a watch list.
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Market Snapshot |
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Volume |
1,119,343,000 |
820,933,000 |
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Strongest/Weakest Sectors |
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Strongest Sectors |
Weakest Sectors |
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Morgan Stanley Healthcare Payors Index (HMO) |
GSTI Internet Index (GIN) |
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Amex Airline Index (XAL) |
Amex Disk Drive Index (DDX) |
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S&P Retail Index (RLX) |
Amex Gold Bugs Index (HUI) |
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Economic
News |
| Trade Balance
-$63.9 bln vs -$59.5 bln consensus Initial Claims
297K vs 315K consensus
Export Prices ex Ag. +0.4%, prior 0.6%
Import Prices ex Oil +2.9%, prior +0.3% |
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com
