So tomorrow we have the all important employment numbers. Will they be too hot, too cold or just Goldilocks right? If the bulls are still in charge of equity markets, they'll find a way to spin-it to justify higher prices unless of course they've taken a holiday.
Today bond investors were focused negatively on flat productivity growth which typically precedes inflation.
As quickly as people started worrying about inflation again, Dallas Fed President Fisher as if on cue stated that concerns about inflation were "now behind us."
Retail sales were disappointing to bullish investors where sales from the big two Wal-Mart Stores Inc. (NYSE:WMT) and Target Corp. (NYSE:TGT) were below expectations with the former suggesting a flat November.
Tech sectors were bruised further today by a downgrade in Intel Corp. (NASDAQ:INTC) which just creates more uncertainty since without a robust semiconductor sector tech's gains are limited.
Gold is making a decisive move higher led by concerns about the dollar which today was relatively flat. Oil prices continue to fall easing pressure from that sector. News from the Middle East (www.debka.com) with both Iranian and U.S. forces showcasing their stuff is spooky, and may be putting geopolitical risks back on the front burner.
Here's the riddle of the day and perhaps there's a good answer somewhere, but I confess not to know it yet.
Now we could showcase more but let's wait until tomorrow since the employment report can have a major impact on financial markets one way or another.
Have a pleasant evening.