World markets off to a slow start

U.S. markets are slipping down Monday as markets around the world falter to start the week. The S&P 500 is down 0.32% and the Dow is down 0.22%. Existing home sales for August will be released at 10:00 a.m. today. 

Asian markets fell on Monday as China’s finance minister indicated that no stimulus would be forthcoming to boost a slowing economy. The Hang Seng was down 1.44%  and the Nikkei was down 0.71%.

European stocks are lower today with London markets leading the way down after Tesco, the U.K.’s largest retailer, announced that it had overstated it’s most recent profit forecast. The FTSE is down 0.71%, and the DAX is down 0.01%. 

Energy futures are mixed today. West Texas Intermediate crude oil is $91.78 per barrel, up $0.13 and natural gas is up $0.02. Metals prices are down. Gold is up $1.60 and platinum is down $6.80. The Dollar is down versus the Euro and the Yen.

Vitamin Shoppe, Inc (VSI), Best Buy Co., Inc.  (BBY) and Tata Motors Limited  (TTM), are up.  Stryker Corporation  (SYK), Achillion Pharmaceuticals, Inc. (ACHN) and InvenSense, Inc., Inc.(INVN) are down. 

Michael Haden is an Options Analyst at InvestorsObserver. He graduated from James Madison University in 1986 with a degree in Marketing. In two decades with Standard & Poor’s, Michael honed his analytical skills in the Financial Industry. He has a conservative view toward investing and prefers value stocks to high-fliers with big risk..

You May Also Like