China is Back
At least for one day, China is back influencing the global markets. China released data last night that showed that imports dropped substantially due to weak domestic demand. This again is stoking fears about what’s really happening in China’s economy.
The DJIA was only down 50 points today but the other indices put in more reversal type price action with the SPX down almost 14 points and the Nasdaq down 42 points, closing almost on its low for the day. Biotech got hit hard again today with IBB down 3%.
In tonight’s Weekday Market Wrap video I look at all the market action including Valero (VLO), Tesoro (TSO) and Netflix (NFLX). Continue reading