(INDEXSP:.INX) took another breather today after soaring nearly 30%
Internet security stocks came into focus today after
) announced the $1 billion acquisition of Mandiant. FireEye itself
rose a shocking 39%, and other names in the sector, like
) rose as well.
December 2013 auto sales were reported today, and the numbers were
) sales rose 1.7%, which was well below analysts' expectations for
a 4.3% gain.
(GM) saw a 6.3% year-over-year decline, while Wall Street was
forecasting a 1.5% gain. Chrysler and
(TM) also failed to impress. One possible reason for the December
2013 shortfall was the industry's strong performance during the
Black Friday holiday weekend, which pulled sales from December into
In other auto-related news, CNBC reported that activist investor
Carl Icahn has purchased a large stake in car rental company
Asian stocks were weak after China's December 2013 services PMI
came in at 54.6, a decline from November 2013's 56.0 reading.
(NYSEARCA:GLD) was up 1.1% today in what looks like a relief rally
following its 28% decline in 2013. Gold may have been pushed down
artificially in December 2013 due to tax-loss selling, and now
investors may be looking for an inflation hedge should US economic
growth accelerate. Supporting the idea of a wash-out in gold is a
data point from research firm ETF Securities, which said that
assets in exchange-traded gold products fell 48% in 2013 to $76
Looking at US stock sectors, there was outperformance in
economically sensitive sectors like financials and industrials,
while technology stocks were dragged down by a slump in
(AAPL). Energy names were also weak, as oil and natural gas prices
In fixed income, the 10-year US Treasury Yield dipped back below
3.0%, sending bond prices higher.
Tomorrow's Financial Outlook
At 10:00 a.m. EST Monday, November 2013 factory orders and December
2013 ISM Services will be released. Wall Street's consensus
forecasts stand at +1.7% and 54.5, respectively. There are no big
names reporting earnings.
Investors will likely be looking toward the back half of the week,
which will include the kickoff of earnings season with
(AA) on Thursday, and the big December 2013 NFP report on Friday.