Why Stocks Dropped
What’s in Today’s Report:
- Why Stocks Dropped Friday
- Weekly Market Preview (All About Growth)
- Weekly Economic Cheat Sheet
Futures are slightly lower thanks to continued momentum from Friday’s sell off. Outside of politics, it was a generally quiet weekend.
Economically, we got an upside surprise from German IFO Business Expectations, which rose to 95.6 vs. (E) 94.0 and that offsets a small part of last week’s bad PMIs (but not nearly enough to address growth concerns).
Politically, the release of the Mueller report dominated headlines over the weekend, but as has been the case for nearly two years, this topic is not an influence on markets.
There are no economic reports today and no material Fed commentary, so focus today will be on whether the S&P 500 can stabilize and hold 2800. The Mueller report will continue to dominate media coverage, but again this simply isn’t an influence on stocks, Treasuries or the dollar.
