U.S. Markets To Snap Winning Streak?
Markets in the U.S. have been trading modestly lower all morning and are heading into the lunch break trading just off their session lows as they look ready to snap a four-day winning streak.
At noon on Wall Street, the S&P 500 is trading lower by 0.29%, the Dow is off by 0.23%, the Nasdaq has fallen 0.24%, and the Russell 2000 is sporting a 0.91% loss.
Transportation shares in the airline and railroad space are pushing lower today, most likely selling off on profit taking after making very substantial gains throughout November. We are also seeing weakness from the financial sector (-1.0%) and the consumer discretionary space (-0.9%).
The U.S. dollar continues to selloff across the board as Treasury yields are falling due to heavy purchases of Treasury’s today.
Crude is trading substantially higher today, gaining nearly 3% as traders are expecting OPEC to institute a production cap later this week.