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Closing Update for Monday, August 17: Global Sell-Off Visits U.S. [View article]
I tend to agree with Bill L. The sell off has likely started. Still declines led advances by a more than 6 to 1 margin. Plus the building permits and the housing starts numbers tomorrow will be good if they keep with their recent trend (and housing market recent trends). On top of the good empire state manufacturing numbers this morning, this should allow the market to rebound tomorrow morning.
Plus some companies are expected to do well. TJX and GYMB may perform well in the retail sector. They report Tuesday. This may relieve some of the distress about the retail sector.
I am not expecting the PPI data to be a huge factor.
HPQ reports after the market closes on Tuesday. Its results may big a big factor in Wednesday's performance. HD reports Tuesday also.