Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

US Stock Markets Hug the Flat Line, but Signs of Weakness Appear


Today's financial recap and tomorrow's financial outlook.

Japanese consumer prices rose at the fastest annual rate since 2008 in the month of November. No doubt the extraordinary actions by the country's central bank are somewhat responsible for restoring confidence in the economy. November national consumer prices rose 1.5% from a year ago, up from a 1.1% rate the month prior. The benchmark Nikkei 225 Index (INDEXNIKKEI:NI225) was only 0.03% higher on the day despite stronger retail sales data as well.

US markets hung around the flat line throughout the session and finished little changed. Tech-sector stocks struggled throughout the day, in part due to Twitter's (NYSE:TWTR) notable 10% reversal in today's trading after its strong post-IPO run. Transport-, retail-, and financial-sector stocks all recorded notable reversals, which may imply that the major indices are seeing signs of upside exhaustion.

The 10-year Treasury yield broke through and closed above 3% for the first time since September in today's session. German bunds and UK gilts were also under serious pressure as their respective currencies rallied strongly vs. the US dollar.


November US pending-home sales are scheduled to be released on Monday morning. Sales are forecast to rise 1.0% from the prior month to a -0.2% annual rate. Last month's -2.2% annual rate was the slowest rate of increase since early 2011. The regional Dallas manufacturing survey is also scheduled to be released. Economists estimate the survey will remain little changed in December at 2.0 from last month's 1.9.

There will be no global economic data releases or US earnings reports.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos