Serendipity Friday, page-10

Signs that the US market is getting the wobbles?

Reuters:

"S&P has fourth daily loss above 1 pct this year..."

But:

"Rather than a single catalyst, a range of worries prompted investors to take profits, including the tense U.S. relationship with North Korea, the Barcelona attack and domestic turmoil. But some investors said the pullback would likely be temporary. The stock market has a great tendency to look at geopolitical or political events, have a small pullback and then just shrug its shoulders," said Burns McKinney, chief investment officer in the Dallas office of Allianz Global Investors. "Normally it takes a day or two to digest such events, but what the market cares about is corporate earnings," which have been growing at double digits the first and second quarter, McKinney noted."