The broader market is mostly negative today after two economic data points released. The Chicago PMI hit a 29-month low and consumers reined in spending in March after a sizable jump in February. If the losses hold, the major indices could be heading for an overall monthly loss.
Internationally, pressure in building on Spain after they officially entered into a recession. This was in addition to the S&P downgrade of the the country’s sovereign debt rating. Investors should get used to hearing about Europe again. French elections are just around the corner and could put pressure on on the ECB/EU rescue pacts.
Currently the Dow is off 38 points, near its session low. The Nasdaq and S&P are both edging lower, down 20 and 8 points respectively. [Read more...]
