Stocks are edging lower today as the S&P 500 retreats from the key 1500 level.
Equity index futures are down by about 0.2 percent, matching similar declines in Germany and France. Currency markets are also sounding a cautious note as the euro falls and the Japanese yen rallies. Most Asian markets were higher, following bullish momentum in that region.
Today marks a relative lull in economic news before an onslaught of headlines the next three days. The ADP payrolls report and Federal Reserve monetary announcement come tomorrow. Thursday sees jobless claims and Chinese manufacturing data, while Friday brings European manufacturing reports and the all-important United States non-farm payrolls report.
The S&P 500 has been parked at a four-year high recently as investors wait for the news to hit. The only big data points today are the Case-Shiller index of home prices at 9 a.m. ET, followed one hour later by consumer confidence.
— Option Monster