Paying Heed to Early Warnings
The underlying weakness seems to be lingering. I expected a bit more of a bounce today, and it is early, so there is still a chance we see it. However, a bounce without steam here would become dangerous for bulls.
There isn't anything that stands out to me right now beyond the earnings reports and warnings we are hearing. These early warnings seem key, as they are coming from names such as Chevron (CVX) and Cummins (CMI). These are names which make me even more uncomfortable about the current economic conditions than any data we are fed from the government. If business is improving, I would not expect to see both of these warning, or Yum! Brands (YUM) coming up short on revenue, or even another lackluster report from Alcoa (AA)....223 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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