Seeking Alpha

Stocks fluctuate as traders sit tight

  • Stocks finished with small losses after a choppy session, rebounding from early weakness after the the ISM services sector survey and the ADP private-sector jobs report but failing to follow through the previous day's gains.
  • Trading today was lighter than in recent tumultuous sessions, as investors try to digest what they've seen in the past two weeks.
  • Meanwhile, strong earnings growth could help push stocks higher when the turmoil over emerging markets settles; the S&P 500 is on pace for 8% Y/Y earnings growth, better than expectations and the biggest rise since Q4 2011.
  • The dollar declined against major currencies, and the yield on the benchmark 10-year Treasury rose 4.5 bps to 2.671%.
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