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The Ebb and Flow of Inventories

Daily Recap

Light trading volume characterized today's session as nearly all major U.S. averages declined modestly. The Industrials lost 8 points while the Transports declined 0.4%. The Nasdaq declined 0.1% and the S&P 500 fell 0.2%.


Next week's holiday combined with a plethora of high profile investment conferences this week are being cited as reasons for the slow trading. We could see this persist through the week.


Overseas markets also posted primarily losses. Major averages in Europe were all in the red, as were indexes in Asia with the exception of the Shanghai Composite, which rose 0.64%.


On the commodities side, gold tacked on $2 per ounce while silver fell 13 cents. Light crude traded down marginally but still remains above $48 per barrel. Bond prices were little changed, though slightly to the upside, while the dollar also remained essentially flat.


The only economic data released today was the Markit Purchasing Manufactures Index, which came in at 50.5 (slipping ... Log in or subscribe to continue reading.

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