Down 31 points
I fee like I’ve said this a lot lately: Markets don’t bottom on Fridays. It’s been happening over and over. Buying a dip on a Friday is suicide.
Whether it’s worries about trade, Syria or the economy, it seems like if there are any worries on Friday morning, they will be magnified by Friday’s close.
The S&P 500 is down 31 points to 2661 after finishing last week at 2656. What had been a second straight solid week was upended by worries about Treasury yields.
What’s making me a bit nervous for next week is that the bond market isn’t showing any kind of flight-to-quality, so both bonds and stocks are moving lower. That’s not a pretty picture.