Stocks Mixed Ahead of CPI Report
Stocks are starting the week off mixed ahead of
tomorrow’s Consumer Price Index report. Automotive stocks
are being led higher by DaimlerChrysler after the company reported
an 80% sale of its Chrysler group to private equity firm Cerberus
Capital Management.
June crude futures are up 0.3%
to
$62.57 per barrel after Nigerian militants made threats to attack
pipelines in the Niger Delta.Â
June gold futures are lower by 0.5% to $669.10 an ounce as the
dollar continues to strengthen. Gold tends to trade
inversely to the dollar.
Around Asia, Hong Kong’s Hang Seng
Index jumped 2.5% to 20,979.24, Tokyo’s Nikkei Index rose 0.7% to
17,677.94, and Shanghai’s Composite added 0.6% to 4,046.39.
Today’s
PowerRatings Heat Map is starting to have a bearish bias after last Friday’s
rally. Sectors that look particularly weak are
Transportation, Metals and Mining, and Diversified Services.
Click here to see our new list of indicators that includes
Gaps Down 5% or More,
2-Period RSI Below 2,
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com