It is a tug of war on the market today after Amazon and Ford beat expectations , but GDP numbers showed slowing growth. The conflicting data has the market whipsawing between modest gains and losses. Plus it is Friday which has everyone looking for the weekend so volume is lacking conviction in either direction.
Europe continues to be on the minds of investors after Spain earned a downgrade from S&P after the close yesterday. The concern there is that they may have issues servicing debt going forward, and may have to intervene further with their financial institutions.
Overall the markets seem to be tempering their unbridled optimism of the first quarter into something a bit more realistic and cautious. Currently the major 3 indices are posting modest gains. The Dow is up 17, the Nasdaq is up 6 and the S&P is up fractionally. The S&P 500 is shooting for a close over 1400. [Read more...]