Sept 8th 2014 – Stock Closed Mixed after Mid Afternoon Swoon

Market View:

Bad day to be in energy stocks, Crude Oil fell below $100 for the first time in a year.  Gold also had a sizeable drop.

It seems that we are stalled at around 2000 on the S&P as it plateaus here for a while.  I think given the failed movement down last week, we will see higher prices by the end of the week.  Every attempt by the bears is bought.  We are due a day that is all about a rally, who can be sure if it will come this week, but I just have that feeling that it is imminent.

Also, we have Apple tomorrow unveiling more i-Stuff and Alibaba is on it’s way soon.  Therefore, I am feeling very positive about the short term view.

Market News:

U.S. stocks mostly declined on Monday, with energy producers leading losses on oil’s drop to a multi-month low, as investors retreated after a fifth week of gains lifted the S&P 500 to a record, with the Dow Jones Industrial Average not far behind.

The energy sector fell the most among the 10 major industry groups on the S&P 500, which declined 6.17 points, or 0.3 percent, to 2,001.54, leaving it just over 6 points from its record closing high, set Friday.

The energy sector fell the most among the 10 major industry groups on the S&P 500, which declined 6.17 points, or 0.3 percent, to 2,001.54, leaving it just over 6 points from its record closing high, set Friday.

The energy sector fell the most among the 10 major industry groups on the S&P 500, which declined 6.17 points, or 0.3 percent, to 2,001.54, leaving it just over 6 points from its record closing high, set Friday.

The Federal Reserve on Monday reported U.S. consumers increased their borrowing in July, led by rising car loans and higher credit card balances.

Tuesday:

Apple’s unveils new i-stuff

Earnings: Barnes and Noble, Krispy Kreme, Burlington Stores, Palo Alto Networks

7:30 a.m.: NFIB small business optimism

10:00 a.m.: Fed Vice Chair Daniel Tarullo testifies on Dodd Frank

10:00 a.m.: JOLTs job openings and turnover data

1:00 p.m.: 3-year note auction

News Sources:  CNN Money & CNBC