The Markets Post-Greece

The stock market is holding up better today than I thought it would following the elections in Greece. The S&P 500 just turned positive for the day.

Former Buy List stock, IBM ($IBM), is in the news today. The company is planning layoffs but not as large as had been expected. This is tough for me to see because the company is in more trouble than I had realized. The job cuts are difficult but are necessary for IBM to get back on track.

The Federal Reserve meets tomorrow and on Wednesday, plus New York City is being hit with a massive snow storm (we’re getting a little here in DC but not much). We’re also waiting on Microsoft ($MSFT) to report after the close today.

Gold, which had been rallying this year, is down a lot today following Greece. The yellow metal is back below $1,280 per ounce. Gold was recently above $1,300.

Posted by on January 26th, 2015 at 12:19 pm


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