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Stocks trended lower throughout the morning, but losses accelerated late in the day and the major indexes closed lower. Investors seemed to be torn between a batch of mostly positive earnings reports and rising global tensions. The S&P 500 ended below its 14-day moving average for a second straight day, and 9 of the 10 primary S&P 500 sectors fell on the day.Although markets have dropped over the past two days, lackluster corporate earnings cannot be blamed. Almost 70% of companies reporting have topped earnings expectations, which is well above the 63% average.
The main culprit for foul market sentiment today seemed to be the Ukraine/Russia turmoil. President Barack Obama said the U.S. was imposing new sanctions on Russia in the energy, arms and finance sectors, as a reaction to Moscow’s support for rebels in eastern Ukraine.
Alongside the international conflicts, investors seem to be awaiting the GDP numbers that the Fed will release tomorrow. If the numbers come in favorably, then perhaps we may see some better index performance to close out the day.
About Ulli:
In 2000, and in 2008, in the midst of apparent market expansion, Ulli’s methodology directed him and his clients to the safety of the sidelines just before the beginning of the brunt of the bear market. Ulli has written countless articles on investing and the very popular e-book “How to beat the S&P 500…with the S&P 500”
Ulli provides a rare blend of European sensibility, engineering practicality and American ingenuity to bring a new level of reliability to the often erratic environment of investing. He has applied his intelligence and creativity to refining a dependable method of tracking and working successfully with market trends, and he brings a genuine caring for people to his service as an investment advisor.
Contact Info:
Name: Ulli Niemann
Email: Send Email
Organization: Successful Investments
Website: http://www.theetfbully.com/
Release ID: 54121
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