Subscribe to our free newsletter to receive trading tips via email. We are looking to sell the Aug DJ 112 calls at 3.25 points or better. The Conference Board reported today that Consumer Confidence fell to areading in July of 135.6 vs. a revised June reading of 139. Today'sreading is significant since this the first drop in nine months, and mayindicate that the US economy is cooling off. Confidence readings are followed by many economists since the US economy is composed by two thirdsof consumer purchases of goods and services.
Bonds lower on plethora of bearish news .
Bonds are also pressured by a weak European bond market and strong oil market. Until these issues are resolved, the path of least resistance is down. The slow devaluation is needed to prevent an abrupt fall of the Russian currency against the US dollar. He did not say however, how much the ruble should be devalued. The Japanese Yen open sharply lower today on a second round of Bank of Japan intervention.