Stocks Down In Early Trading

I hope everyone had a great weekend. The stock market has started the week down slightly. Trading volume will probably be light today since much of the northeast has been affected by snow (we barely got any in D.C.). I’ve noticed that several airline stocks are down today.

The major concern weighing on stocks is that China just raised rates by 0.25%. The stocks feeling the most pain are raw material stocks that do a lot of business with China. Oil is near a 26-month high.

The yield on the two-year Treasury is up 7 basis points to reach a new six-month high. That sounds more impressive than it is since the yield is now just 0.72%. Still, the movement out of bonds continues. The 10-year yield is now up to 3.41%.

For our Buy List, five stocks are up, fourteen are down and Nicholas Financial hasn’t traded yet.

Posted by on December 27th, 2010 at 10:34 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.