If I could summarize my view on the U.S. stock market in one phrase it would be that it is too early to buy and too late to sell....frustrating.
The financials are getting crushed today because of (drumroll please) EUROPE! It also appears that the U.S. economy is struggling a bit due to continue high unemployment numbers and dissapointing corporate earnings reports. Just a few of the earnings releases that were below consensus expectations were Bed Bath & Beyond, Cardinal Health, FedEx, Dell, Texas Instruments, Proctor & Gamble, Darden Restaurants (just to name a few).
I'm also watching the price of oil continue to move down which is a possible tell of world wide economic weakness (less demand for oil shows a weakened consumer and business environment). That being said, at least it's cheaper to fill up your gas tank!
But like I said I still think it's too early to buy and too late to sell....frustrating.
