Market opens higher to begin the new week. Stocks have demonstrated choppy price action in the new year, with a positive bias, which is quite different from the close of last year. The strong start has been impressive. Stocks have been taking a bit of a well-earned breather of late, but so far selloffs have been relatively mild, and in the face of the same pressuring events, namely Brexit, Trade War, another shutdown and the global slowdown. There is expected to be a new round of U.S.-China trade talks today, with Chinese Foreign Ministry spokeswoman Hua Chunying telling reporters that Beijing hopes to see good results. China’s stock market opened for trading after being closed all last week for their New Year’s holiday. 60 more S&P 500 companies are set to report in what will be the last big week of the Q4 earnings season. Crude prices continue to slide after a strong start to the year. WTI is holding $50. Gold is lower in early trading while both the Dollar and interest rates are higher.
Have a great morning,
Mike Frazier
