FYI: Stocks ticked lower in light volume. Traders said activity was mild on the heels of Friday’s upbeat jobs report (which is bad for stocks because it means the Federal Reserve might raise interest rates). J.P. Morgan’s equity trading desk explains.
“The U.S. market has been quiet for a while but this dynamic appears to be worsening as domestic investors adopt an increasingly myopic view of the world, focused only on monthly jobs reports and Fed statements. The June 17 FOMC decision/press conf. may help break the tape from its stupor but Yellen prob. won’t provide a definitive tightening schedule at that time.
It continues to seem that not until rate hikes are considered certain and imminent can stocks break out of this frustratingly flat price action
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2015/06/08/etf-market-vital-signs-june-8-thats-one-more-time-around/tab/print/
