Hello traders everywhere. Stocks are looking to bounce back a week after they suffered a bit of a pullback that resulted in weekly losses for the S&P 500 -1.2%, DOW -.65% and NASDAQ -1.1%. The losses came on the heels of a record-setting week, so it's expected that there was room for a pullback.
What was a positive morning for the stock market with better-than-expected earnings from companies ranging from Coca-Cola (KO) to United Technologies (UTX) has turned mixed as we head into afternoon trading. Will the market post a positive weekly gain this week?
The U.S. Dollar issued a new green weekly Trade Triangle at $97.58, indicating that we could see a long-term uptrend take shape. This came after news of a congressional deal to extend the U.S. debt limit for two years, easing fears of a government default.