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Global stock markets were mixed to slightly up overnight. U.S. stock indexes are weaker at midday. Corporate earnings reports will be in focus for stock traders this week. We are in the “dog days” of summer, whereby trading volumes in many markets wane as traders and investors step away from markets and take family vacations. Much of Europe is on vacation during August. Markets are likely to be mostly quieter until after the U.S. Labor Day holiday in early September.
The key outside markets today see Nymex crude oil prices higher and trading around $90.50 a barrel. Crude oil last Friday hit a 4.5-month low. The U.S. dollar index is lower at midday. The yield on the 10-year U.S. Treasury note is fetching around 2.8%. The 2-year U.S. T-note yield is 3.209, which has the yield curve still inverted and is one clue the U.S. is in or headed toward economic recession.