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- Stocks Lurking Near New Highs Again
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
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Reporter
Bob Pisani is off, this post was written by CNBC producer Danielle Kennedy
Markets are selling off in midmorning trading after being hit with disappointing economic data.
The S&P/Case Shiller index indicated U.S. home prices continue to tumble in April, but are declining at a smaller pace for the third month in a row. Out of 20 major metro areas, 17 are posting drops of more than 10% from a year ago. Retreating consumer confidence is also weighing on the markets, sending all sectors into the red. The Conference Board reporting its index of confidence fell to 49.3 in June, versus a revised 54.8 in May. Economists were expecting a reading of 56.
Traders are keeping an eye out for window dressing as the quarter comes to a close. However, trading volume has been extremely light Monday and today, so far. This has led some traders to believe that if there was any action caused by fund managers dumping or buying up stocks in an attempt to “dress up” their portfolios, it was likely completed last week.
S&P Sectors leading into the final day of the second quarter:
- Financials Up 36%
- Information Tech Up 20%
- Industrials Up 19%
- Consumer Discretionary Up 18%
- Materials Up 17%
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POPULAR TRADER TALK POSTS
- Stocks Lurking Near New Highs Again
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
Data is a real-time snapshot *Data is delayed at least 15 minutes