Daily Delphi

Post: Monday - No data but plenty of news. | Daily Delphi

BlogsPit Talk › Monday - No data but plenty of news. March 24, 2014, 6:50 am

No economic releases today.

The stock market ended an upbeat week on a down note Friday. The Nasdaq lost -42.50, the S&P gave up -5.61 and the Dow ended down -28,35. With no economic data to get in the way equities started the day strong but couldn't hold the momentum. After an initial spike higher in early trade the markets spent the rest of the day in retreat. Quadruple witching and index rebalancing added volatility and huge volume. Friday's trade accounted for nearly 50% of the weekly volume on the New York Stock Exchange.

Overnight Asian markets rallied after a lower than expected PMI number out of China. The poor data led traders to believe that stimulus adverse policy makers might change their thinking. Europe's major indices are down across the board on worries that Russia really will lead the West into a confrontation - financial, military or otherwise. With no economic data to look at in the U.S. today investors will be analyzing the data out of China and keeping a close eye on developments in Ukraine. Trade strong.

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