Global markets took a breather overnight after yesterdays good positive rises.
In Europe, the FTSE fell 10 points (.13%), the DAX fell 28 points (.17%) and the CAC fell 23 points (.32%).
Data showed that German industrial production contracted in November by .7% (Oct saw a .3% decline. This is the 6th month of contractions giving indications of a hard landing in Europe.
In the US, the DOW fell 157 points (.42%), the NBI fell a modest 3 points (.087%), the NASDAQ closed up by 13 points (.094%) and the Russell small cap index fell 20 points (1.05%).
Good to see that the biotech sector is holding up well in a falling market. Fall in the Russell small cap index does point to markets being a bit more risk averse.
The US tech sector was hit by Samsungs announcement that they expected a 35% drop in income due to falling demand.
US banks will produce earnings reports at the end of the week, and this may be a pointer to where US markets will trend.
US consumer inflation data comes out on Thursday.
Oil prices rose - Brent crude at US$ 77.91.
US Treasury 10yr bond yields are on the rise again - now at 4.11%. Bond yields at 4% or over means more fear in markets and less funds go into share markets. Something to keep an eye on.
Gold price is softening a bit - now at US$2,029.
Why IMU is a multi multi bagger, page-20532
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