Equity markets are pretty flat after a morning sell-off. All the major indices, S&P 500, NASDAQ, and DJIA, are down at least 1%. Overseas, these losses were magnified, with the FTSE closing down 1.8%, the DAX down 3.4%, and the CAC 40 lower by 2.8%.
Treasury futures are higher, but not significantly so. 30-year bond futures gained 0.6%, and 10-year note futures rose 0.25%. The US$ index is also up 0.4% – lifted mostly by a sharp drop in EUR/USD to 1.3130 from above figure-1.32 on Friday.
With calm back in markets, I would not be surprised to see some losses pared in the afternoon.
Today’s earnings will see the following companies report. Traders are selling the stocks into earnings – whether that is taking off positions or just in conjunction with the broader equity market decline is yours to decide:
– Ameriprise Financial (AMP): -1.5% today
– Netflix (NFLX): -3.2% today
– Rent-A-Center (RCII): -1.4% today
– Texas Instruments (TXN): -1.5% today