At-a-Glance
Today’s Top Highlights
On Friday, there was a good amount of economic data released, and the equity markets faced extreme selling pressure with the Nasdaq falling over 4.5%. Over the weekend, there were questions on whether this would trigger additional selling throughout this week or if there would be a bounce back, and the Nasdaq led the charge on the move higher today trading up by 1.48%. While the Nasdaq did see some decent recovery from the selling, the S&P and Russell only traded marginally higher, and all 3 of these major indices traded significantly off of their high price for the day. These markets were also trading at severely elevated levels considering the relative strength, so this can be seen as a marginal pullback for the time being.
Outside of the equities, many asset classes did not see much volatility today as there were no big economic reports that came out throughout the day. Gold and Silver traded marginally lower while still trending lower and Crude Oil traded higher by just less that 1% on the day, still fighting in the range it ahs been in for the last two weeks. This week brings more key economic data, with Existing Home Sales tomorrow, CPI on Wednesday and PPI on Thursday, but all eyes will be on the CPI report Wednesday to get a gauge on inflation.
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