Market Overview

May 29th Watchlist

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Top of the news this morning is a bearish outlook from the OECD concerning the global economy. They are stating that paring back QE programs could stunt global growth estimates. Futures are reacting negatively to the news despite yesterday's attempt at a bounce. Most sectors are squarely in the red this morning except for the Precious Metals and the Treasuries.

There is no economic data scheduled for today but the rest of the week will provide some reports that could stimulate the markets in either direction. GDP & Jobless Claims are hitting the street tomorrow & we have another consumer confidence figure scheduled for Friday's session.

Tesla (NASDAQ: TSLA) is continued its run higher, hitting $114 in the premarkets today. Apple (NASDAQ: AAPL) CEO Tim Cook stated that he was interested in ‘wearable' computer devices at a high-tech/media conference.

Markets are in chop mode folks that means holding any kind of directional bias could prove to be your downfall. Be careful out there and start practicing the art of NOT trading.

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.

Posted-In: Options Markets Trading Ideas

 

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