With earnings season winding down,event risk has become the focus for traders now.Stocks closed at their lows of Friday's session,with financials losing big on concern over a criminal probe into Goldman Sachs' activities.Traders are worried that further negative information about the Wall Street titan will toughen new financial regulations even more.The other main concern is the Greek debt crisis,which has reached a critical juncture this weekend.If no bailout is reached by Sunday night,Friday's selling could resume on Monday.Greece needs to come up with cash for a May 19 debt payment.
Nonetheless,stocks closed up both for the week and the month.April is traditionally a strong month for equities,while the summer months are believed to yield weaker results,according to conventional wisdom.The S&P futures were down sharply this evening,losing 21.90,while bond futures rose.In golf,Tiger Woods was in danger of not making the cut in the PGA event at Quail Hollow,with relatively obscure players being on the leader board.
No comments:
Post a Comment