Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 11th of June.
DailyXchange
Post and prosper right here with other MarketClub members everyday. We welcome your thoughts and comments.
The pain in Spain continues and is far from over. The infusion of $125 billion into the banking system was nothing more than a band aid on a festering problem: the banks in Spain have yet to write down the true value of their real estate portfolios. This tells me that things are far from being right, and everyone is still kicking the can down the road. Details of this agreement are very nebulous and have not been defined as of yet. The devil is in the details!
I think how the markets close today, and in particular how the financial markets close today are going to be the precursor of the trend for the balance of this week.
Today, investors are jumping out of sectors like FINANCIAL: -0.44% * Biggest Loser: BAC - 2.35% and into safer sectors like UTILITIES: +0.26% * Biggest Winner: PGN + 3.52%.
TODAY'S MARKET MOVING SECTORS and STOCKS:
Percentage changes in stocks are relative to the S&P 500
| CONSUMER GOODS: -0.26% | Biggest Loser GMCR -5.04% |
| SERVICES: -0.05% | Biggest Loser GWW -3.30% |
| HEALTHCARE: +0.19% | Biggest Winner CYH +5.36% |
| ENERGY: -0.34% | Biggest Loser ZNGA -4.67% |
| TECHNOLOGY: -0.14% | Biggest Loser FB -3.29% |
| FINANCIAL: -0.44% | Biggest Loser BAC -2.35% |
| INDUSTRIAL GOODS: -0.51% | Biggest Loser OC -3.64% |
| BASIC MATERIALS: -0.98% | Biggest Loser AKS -10.31% |
| UTILITIES: +0.26% | Biggest Winner PGN +3.52% |
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology. Click Here to view today's video
