Stocks Decisively Lower Amid a Plethora of Catalysts

[Wiljor]

The domestic equity markets are trading solidly lower in early action, with losses amplified by a disappointing read on U.S. December retail sales. The report added to a host of issues that are contributing to the downside pressure, as the continued drops in crude oil and copper prices are weighing on commodity-related stocks, while sentiment is being exacerbated by a lowered global growth forecast from the World Bank. Moreover, the U.S. banking sector is beginning to report 4Q results, with Dow member JPMorgan Chase & Co missing the Street's expectations due to a larger-than-expected legal expense. Treasuries are trading higher amid the soured mood in the markets, along with gold, while the U.S. dollar is solidly lower. In other domestic economic news, import prices fell, while weekly mortgage applications surged, ahead of the afternoon release of the Federal Reserve's Beige Book. In other earnings news, Wells Fargo & Co matched analysts' earnings forecasts but topped revenue expectations, while CSX Corp matched the Street's estimates. Overseas, Asian stocks finished lower on the weakness in commodity-related issues and dampened global sentiment, which are also weighing on European equities.

Schwab.com

[temperament5]

The $5 Million bet against the S&P 500 by CNBC.

 

In a big trade the caught the options community on Wednesday, one trader placed a massive bearish trade on the SPDR S&P 500.  This $5.4 million trade will only pay off if stocks fall more than 3% over the next 7 sessions."

 

Do you think someone is in the know?  Very interesting Put move on the SPY!

[gymrat76541]

Poor folks go to Vegas, & the rich play the market.