Sang Lucci December 13th Watchlist
Markets are set to open flat this morning with a mixed bag across the large-cap sectors. Retail Sales data came out this morning in-line with expectations and jobless claims figures showed some progress from last week's numbers. The economic data, however, failed to push the markets convincingly in either direction.
The Treasuries continue to slide, as well as the precious metals, which stimulates the obvious question: why isn't the market aggressively pushing higher? Usually, if investors are coming out of bonds they're looking to put more risk on the table and would consequently move into the equities markets.
Financials are holding their ground and you can really feel the buyers sweeping back in to pick up lower prices and hold the stocks up. Bank of America has sat over $10.50 now despite many attempts to dump back through it. Having said that, Goldman Sachs is definitely now the dog of the sector.
The saga continues with Apple's maps debacle as news hit this morning that they were bringing back the Google Maps app to the Apple store. Google has rallied a little over 2% off the backs of the news leaving Apple to sell off in the premarkets down to about $530.
Keep it tight and focused today folks. Traders must look for stocks that are moving without the influence of the broad indexes. If the indexes aren't moving with any conviction you're going to see more chop across the board which equates to poor options pricing. Many believe we're now going into the slow vacation period where volumes are light and alpha moves are, for the most part, nonexistent.
GOOD MORNING YOUNG WORLD!
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.