Stocks were up for the third week in a row, posting record highs on better - than - expected earnings results and
solid domestic economic data.
As trade continued the lack of
domestic economic data continued to leave the market light as investors waited patiently for European and US numbers for guidance.
There was
little domestic economic data of import last week, few developments from a global perspective, trading volumes were subdued, post-Brexit worries... View Article
«This week, despite a fair amount of
domestic economic data slated for release, we expect events in the Middle East and Ukraine will continue to put a damper on rates.»
While agreeing the currency move signals economic troubles in China, Jim McCaughan, chief executive of Principal Global Investors, said the Fed will focus on
the domestic economic data instead of trying to extrapolate how a slowdown in the Chinese economy might slow activity in the U.S.
The end result, investors say, is that the national team is unwittingly encouraging short - term trading patterns that amplify the detachment of stock markets, which have become less responsive to fundamental drivers such as earnings trends,
domestic economic data and shifts in global markets.