The markets started a little higher today but have eased off. The DOW had a gain of 40 points at the opening on hopes that the re-election of Japanese Prime Minister Abe would continue that country’s easy money policies. Then a downside reversal in the shares of GE sent the DOW into the red. BA weakened a bit ahead of its report on Wednesday while GS, IBM, MCD and PG were also lower. HD and JNJ are doing well at new highs…and WMT is continuing its recent gains. The NASDAQ is lower on weakness in AMZN ahead of its report on Thursday night, plus GOOG, FB and NFLX are also down today. NFLX has had the wind knocked out of its sails after its report two weeks ago when it went as high as 204.

With 90 minutes left in today’s session, the DOW is down 6 points, the S&P 500 is lower by 4, and the NASDAQ is off 22 points. Breadth numbers are slightly negative. The VIX is higher with a small gain of .13 up to 10.10.

Bond yields are a little higher with the 10-year Treasury Note at 2.38%. Because of this, the dollar is stronger with the Euro at 117.4 and the Japanese yen is up to 113.7 to the dollar . Gold is lower to $1,277 and crude oil is now at $51.86 a barrel.

Donald M. Selkin

Don Selkin is the Chief Market Strategist at Newbridge Securities Corporation, member FINRA/SIPC and provides the Fair Value analysis for CNBC each morning.  The commentary provided in this Market Letter is intended to provide our customers with timely market analysis and should not be considered a research report.  This Market Letter may contain, and is limited to: Discussions of broad based indices; Commentaries on economic, political or market conditions; Technical analyses concerning the demand and supply for a sector, index or industry based in trading volume and price; Statistical summaries of multiple companies’ financial data, including listings of current ratings; and, Recommendations regarding increasing or decreasing holdings in particular industries or securities.  This Market Letter does not make a financial or investment recommendation or otherwise promotes a product or service of the firm.   This Market Letter contains only news, facts, and commentary on information previously reported from a news source believed to be accurate and reliable by the author.  These news sources include the following:  {Bloomberg Financial, Reuters, and the Associated Press}. These notes have been abbreviated and updated with permission from the Author.