Global markets were lower overnight after GE shares plunged for the second straight day and a drop in oil prices hit energy stocks.
With the quarterly earnings season winding down, the US market has taken a breather after its rally to record highs last week. Interestingly, a survey by Bank of America showed a record number of investors believe equities are overvalued, however cash levels held are simultaneously falling. As we mentioned yesterday, what we find astounding is the lack of volatility, and that there have not been any significant pullbacks/market corrections this year.
Closer to home, the Australian market continues to retrace following a stellar run, with the ASX 200 market index breaking back below the key psychological 6000 level. This was despite positive economic news with NAB'...
Stock Markets, Simplified.