| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3559 Registered: 05-2011 Rating: N/A |
Market Briefing: Lack of willing buyers 1. The stock market is on its heels in the early going, suffering from a lack of leadership and a general lack of buying interest. 2. Given the rally seen over the last two sessions, today's start is apt to be disappointing for many, yet it's largely indicative of a market that remains in consolidation mode. 3. Given that, the growth stocks are once again bearing the brunt of the early losses. Their weakness is being linked in part to inflation pressures and worries that those pressures will ultimately drive up long-term rates that will compress valuations. 4. That might be the subtext today, yet it would be remiss not to mention that the Treasury market isn't necessarily reflecting those inflation worries to any great extent -- not today anyway. The yield on the 10-yr note is unchanged at 1.64%. 5. Accordingly, one can make a case that today's weakness is owed primarily to a lack of willing buyers than it is to any specific news catalyst. |