If you woke up this morning wanting to see
volatility in the financial markets you certainly have not been disappointed
today! The S&P 500 was quickly down
12 points this morning and then rebounded to up 2 points in early afternoon
after a new Greece Poll was released suggesting the New Democracy party has a
slight lead over the Syriza. It is
important to note that New Democracy is the largest pro-bailout party while
Syriza has been calling for the cancellation of all existing bailout
agreements.
Most of the economic data that was released today
including jobless claims and GDP were below expectations, so the markets
continue to trade on rumors and speculation until the data points show signs of
improvement.
Tomorrow, we will get the all-important Jobs number. Expectations are for approximately 150,000
new jobs created in the private sector.
I along with everyone else will be watching this number with high
anxiety considering the current backdrop we are in.
I can be reached at 239-288-6542 if you would like to discuss anything
further.
Past performance is no guarantee of future results. The S&P 500 is an unmanaged index. It can’t be directly invested in.
Eric Marvin, CFP®, CRPC®
JPT053112-1004
