What else was there to expect for a Monday? The market fell today on the fact that the Federal Reserve will be meeting tomorrow. The NASDAQ was hit the hardest by falling 1.1% (not too hard).
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Earlier, the government reported on personal income and spending for June. Spending was up 0.6%, better than what was expected, and income rose 0.1%, ahead of the expectation for a decline of 0.1%. The core personal consumption expenditures index was rose 0.3%. the losses were a bit more, but the sell-off in crude lessen the pressure on the markets. Oil prices fell $3.69 to $121.41 even with the word of a storm in the Gulf of Mexico and a fire at a Valero refinery.
So if you have any hair left from you pulling it out. Get your comb and just wait till tomorrow and see what will happen with the Feds.
Tags: Federal Reserve
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