Mike’s Morning Brief: A fast-break rundown of what’s going on.
Market opens in the green after a pretty ugly session for Tech yesterday. The NAS fell nearly 2% yesterday as leadership rotated again. Financials caught a bid, seeing the majority of the flows. We expect more choppy action as the Qtr closes out. The vote on the Senate Health Care Bill got pushed out to after July 4, sending stocks lower, particularly those in the Medical arena. As it stands, the Republicans don’t have the votes. The second stage of the Fed stress test comes today, which should be positive for Financials. The Dollar continues to weaken against the Euro. Crude is stable ahead of the inventory report, which will no doubt have influence on oil prices. Interest rates have jumped the last 2 days, with the 10-Year Treasury yield back above 2.2%.
Have a great morning,
Mike Frazier
