Market Sentiment Watch: Nervous market conditions persist with oil sentiment beginning to weighing on the broad markets. All eyes should be on the Fed and Yellen tomorrow and on conditions in Russia and China today. European PMI data was a mixed bag while China PMI highlighted the first contraction on the manufacturing side in 7 months. Energy land continues to move lower on daily drops in oil prices (see comments Commodity Watch section) and the analysts continue to throw inthe towel with drastic and now repeated target price and rating cuts for anyone who has any debt and sells hydrocarbons. In today's post please find thoughts on the plunge in WLL and some other odds and ends including more towel throws by analysts on the E&P sector (it's not often you see targets come off by 80% but it's becoming common of late).
- We get Housing Starts at 8:30 am EST (F = 1.035 mm, last read 1.01 mm),
- Markit Flash PMI – China shows contraction for first time in 7 months coming in at 49.5 vs 50.0 last month.
In Today’s Post:
- Holdings Watch
- Commodity Watch
- Stuff We Care About Today – WLL
- Odds & Ends
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