The market’s cautious bias that began last week has picked up a bit of momentum.
As for today’s market, earnings are once again becoming a key factor. The bright spots from today’s results includes Visa (V), DeVry (DV) and Nutrisystem (NTRI). On the not-so-hot list were the results from SAP (SAP), Jones Lang Lasalle (JLL) and Massey Energy (MEE).
The commodity sector is seeing some heavy selling hit shares of Agnico-Eagle Mines (AEM), U.S. Steel (X), Peabody Energy (BTU) and BHP Billiton (BHP). Where is that money going? How about into shares of AT&T (T) and Verizon (VZ), which are both trading on the upside. Treasuries (TLT) are slightly higher on the weakness in stocks, while Oil (USO) and Gold (GLD) prices drop.