Seeking Alpha

Stocks step back on Ukraine worries, action remains light

  • Stocks slipped after a three-day winning streak, pulling the S&P 500 back below 2,000, as concerns about the deteriorating situation in Ukraine overtook upbeat reports on the U.S. economy and labor market.
  • "We continue to have a good support economically," says Charles Schwab chief investment officer Omar Aguilar, which he says provides a tailwind for stocks to maintain current levels.
  • Participation remains light, with just 479M shares changing hands at the NYSE floor, which appears to come in as the lowest tally of the year.
  • U.S. Treasurys surrendered some early gains as the session wore on, with the 10-year note ending only 5 ticks higher to send its yield lower by 2 bps to 2.34%.
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