Not much to add this morning to Friday and Saturday's video commentaries... CPI tomorrow, retail sales Wednesday, earnings announcements, Fed speakers, and, alas, the government shutdown circus I suspect will give us plenty to comment on over the next few days.
Here's your weekly sector, region and asset class results update (and a quote to ponder):
Asian stocks leaned green overnight, with 9 of the 16 markets we track closing higher.
Same for Europe so far this morning, with 13 of the 19 bourses we follow trading up as I type.
US equity averages are lower to start the session: Dow by 41 points (0.11%), SP500 down 0.36%, SP500 Equal Weight down 0.31%, Nasdaq 100 down 0.51%, Nasdaq Comp down 0.51%, Russell 2000 down 0.62%.
As for Friday’s session, US equities closed higher: Dow up 1.2%, SP500 up 1.6%, SP500 Equal Weight up 1.2%, Nasdaq 100 up 2.3%, Nasdaq Comp up 2.0%, Russell 2000 up 1.1%.
This morning the VIX sits at 14.88.
Oil futures are up 1.11%, nat gas futures are up 4.09%, gold's down 0.12%, silver's down 0.97%, copper futures are up 1.74% and the ag complex (DBA) is up 0.54%.
The 10-year treasury is down (yield up) and the dollar is down 0.09%.
Among our 32 core positions (excluding options hedges, cash and money market funds), 8 -- led by URNM (uranium miners), Range Resources, XLE (energy stocks), DBA (ag futures) and DEM (emerging mkt equities) -- are in the green so far this morning... The losers are being led lower by Dutch Bros, REMX (rare earth miners), XLRE (REITs), LTPZ (long-term TIPs) and VNM (Vietnam equities).
Of all the investment risks we think about, the most dangerous reside in the mind of the investor:
The power of an opinion lies in its indestructibility, once it has been lodged in the mind. --Gustave Le Bon
Have a great day!
Marty
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