Analysis: Markets Whip In Wild Intra Day Action
The markets are whipping between the positive and negative side in wild intra day trading. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $138.19, -0.40 (-0.29%). This wild action is a result of a decent bond auction in Spain and poor economic news in the United States. Jobless Claims came in near a four month high and the Philly Fed Index was surprisingly weak. The combination of a good auction and bad economic news has investors unsure as to which direction the markets should trade. In addition, it is options expiration week which naturally means wild trading.
More earnings will be reported today. Some of the standouts to watch are Microsoft Corporation (NASDAQ:MSFT), Chipotle Mexican Grill, Inc.(NYSE:CMG), Riverbed Technology, Inc. (NASDAQ:RVBD) and Capital One Financial Corp. (NYSE:COF).