As long as rates remain basically steady and earnings continue to outperform the market will trend higher. I don't think they're going to get it. Conroy cited a list of familiar issues, both international and domestic, traders are focused upon. We lost a little leadership with tech falling off. In New York Stock Exchange trading 803.7 million shares traded while declining stocks bested advancers 1,664 to 1,344.
Inflation Is Dead.
The bond market laid the foundation for equities to run higher, even if stocks didn't follow through. But others, noting the recent strength in both oil and gold prices, say inflation may yet have the last laugh. Some noted unusually heavy trading volume in mining concerns such as Placer Dome, in which 2.6 million shares traded, its highest volume since Dec. 16. Senior gold stocks trade in very close correlation to incremental moves in bullion, up or down. The thing is, there are widely varying beliefs to whether the move in bullion is sustainable or a short-term technical blip.